The rating on Cuyahoga County, Ohio's adjustable-rate demand health facilities revenue bonds series 1999, issued on behalf of Hospice of the Western Reserve project, is based on a letter of credit (LOC) provided by Fifth Third Bank, Northwestern Ohio, N.A. The bond proceeds will be used to refund Cuyahoga County's multi-mode variable-rate demand healthcare facilities revenue bonds series 1993A and 1993B bonds. Initially, the bonds will bear interest at the weekly rate and can be converted to an interest rate of one month, three months, six months, one year, five years, or fixed. Bondholders can optionally tender their bonds during any modes except the fixed rate. A mandatory tender occurs when the bonds are converted to a different interest rate
