The rating assigned to Illinois Development Finance Authority's bonds, issued for the YMCA of Metropolitan Chicago project, is based on an irrevocable direct-pay LOC provided by Harris Trust and Savings Bank. The LOC covers principal of and interest on the bonds and purchase price for tendered bonds. The LOC will expire on July 22, 2002, unless extended or earlier terminated pursuant to its terms. Initially, the bonds will be issued in the weekly interest rate mode, but may be converted to a daily, adjustable, or fixed interest rate mode. Holders may tender their bonds when the bonds bear interest in a daily or weekly rate mode. Bond proceeds will be used to assist the YMCA of Metropolitan Chicago in the
