The rating on Albuquerque, N.M.'s bonds is based on a LOC provided by Bayerische Landesbank Girozentrale. The LOC ensures that bank funds are available for the payment of regularly scheduled debt service, the redemption price, and the purchase price of tendered bonds. The LOC covers principal plus 205 days' interest at the actual bond rate for the bonds. The LOC expires on July 29, 2002 or earlier according to its terms. Bond proceeds will be used to construct and equip a communications system, build an emergency operations center, and finance other capital needs. The bonds will initially bear interest for a long-term rate period that will extend from the date of delivery to July 31, 2001. During this initial rate
