The rating on Colorado Springs, Colo.'s variable-rate demand obligation bonds, issued on behalf of the YMCA/USO of the Pikes Peak Region project, is based on a direct-pay LOC issued by Wells Fargo Bank (AA-/A-1+). The anticipated scheduled expiration date of the LOC is Nov. 30,2005. The initial LOC will provide payments for regularly scheduled principal and interest payments, as well as for unremarketed tendered bonds for a maximum of 45 days of interest at 10% per annum. Initially, the bonds will bear interest in the weekly mode. The bonds may be converted to bear interest monthly quarterly, semiannual, annual, fixed, and five-year modes. The bonds are subject to optional tender while bearing interest in the weekly, monthly, quarterly, semiannual, annual,
