El Proyecto Del Barrio is a not-for-profit organization that provides primary medical care, drug rehabilitation and prevention programs, and job training services to low income populations in the San Fernando Valley. Proceeds will be used to refinance two existing loans and construct a facility that will house a primary health care clinic, administrative offices, and a perinatal program. Security for this issue is based on the state of California's Health Facilities Construction Loan Insurance Program. In the event of a default, the state can continue to make regularly scheduled debt service payments or issue debentures to the trustee for the benefit of the bond owners having a total face value of and bearing interest at the rate on the respective
