Standard&Poor's Ratings Services assigned its 'SP-1+' short-term rating to Cuyahoga County, Ohio's (Garden Valley Housing Partnership III, L.P. Project) housing revenue bonds series 2010, reflecting investments in U.S. government treasuries that mature as needed in amounts sufficient to pay debt service. At closing, bond proceeds will be deposited into the project fund and invested in U.S. government treasuries that mature as needed in amounts sufficient to pay debt service. An additional negative arbitrage deposit, in the form of an underwriter premium, will be deposited into the project fund at closing An assignment fund pledged to bondholders also provides security to the bonds. Prior to any disbursements from the project fund, the trustee must first confirm receipt of available
