The rating on Illinois Development Finance Authority's bonds, issued for the Chicago Commons Association, is based upon a direct-pay LOC provided as a credit and liquidity facility by Bank of America NT&SA. Bond proceeds are being used for constructing and equipping a community center, for acquiring and renovating a building to be used by Chicago Commons for family literacy and employment training programs, to reimburse Chicago Commons for capital expenditures, to pay a portion of interest on the bonds, and to pay expenses associated with issuance of the bonds. Chicago Commons Association, a tax exempt organization pursuant to the Internal Revenue Section 501(c)(3). Initially, the bonds will be issued in the weekly mode period and can be converted
