RATIONALE The rating on Burnsville, Minn.'s bonds reflects: Quality of the mortgage loan collateral, Sufficiency of reserves to cover any potential shortfalls, Sufficiency of assets and revenues to pay debt service and expenses, Asset-to-liability position of 106.17% as of March 28, 1999, and Quality of investments. The bonds are secured by a mortgage loan that is insured by FHA under Section 223(f) of the National Housing Act. The bonds were issued to refund a prior series of bonds. Summit Park is a 336-unit multifamily rental housing project located in Burnsville, Minn. The mortgage loan is insured by FHA under Section 223(f) of the National Housing Act. Accordingly, should the mortgagor default on obligations under the mortgage note, the trustee will
