Summary: District of Columbia, DC; Appropriation, Appropriations

The 'A' rating on the District of Columbia's series 2006 certificates of participation reflects: The sound fundamental credit quality of the district (GO rating 'A+'); The district's history of making annual appropriations to pay lease debt and its absolute and unconditional obligation to make debt service payments upon appropriation; and The strong commitment at the city and federal oversight level to ensure that the district appropriates to cover debt service obligations. The series 2006 certificates are being issued to finance the design and construction of a 292-bed psychiatric hospital to be built to replace the existing Saint Elizabeth Hospital on the district-owned property. Responsibility for the hospital was transferred from the U.S. government to the district in 1987. In 1998,

RESEARCH Summary: District of Columbia, DC; Appropriation, Appropriations Publication date: 12-Apr-2006 Credit Profile US$200. mil certs of part ser 2006 due 02/01/2026 A Sale date: 19-APR-2006 OUTLOOK: STABLE Rationale The 'A' rating...

Summary