Auxiliary Deck Banc One Capital Corp The ratings on Illinois Development Finance Authority's bonds, issued for the Fresh Rate Mortgage Revenue Bond Program, reflect the high credit quality of the fixed-rate GNMA MBS and investments backing the taxable bonds. Investments initially consist of a guaranteed investment contract (GIC) with an 'AAA' rated investment agreement provider for the acquisition fund. Upon the purchase of fixed-rate MBS, subseries of bonds will be created equal in principal amount to the fixed-rate MBS and will bear interest at a fixed rate. All bonds pay interest on the 25th day of each month, beginning May 25, 1998, and nominally mature on April 25, 2031. Bonds initially will bear a variable rate during the acquisition period.
