The rating on Illinois Development Finance Authority taxable single-family mortgage revenue bond program series 1999 has been affirmed. In addition, a new rating was issued for the series 1999B. The authority was authorized to issue approximately $225 million in bonds under the program's 1999 issuance. Bond proceeds will be used to purchase single-family Ginnie Mae or Fannie Mae MBS. As part of this program, the authority issued nonrated notes, to fund down payment assistance for the single-family loans. To date, approximately $86 million in MBS have been have been purchased. The authority has resolved to amend the program, to issue the remainder of the bonds at a premium, and to discontinue the issuance of the notes. Proceeds of the premium
