The rating on Illinois Development Finance Authority's bonds reflects the high credit quality of the fixed-rate GNMA and Fannie Mae mortgage-backed securities (MBS) and investments backing the taxable bonds. Investments initially consist of a guaranteed investment contract (GIC) with Monumental Life Insurance Co. ('AAA/A-1+') for the acquisition fund. Upon the purchase of fixed-rate MBS, subseries of bonds will be created equal in principal amount to the fixed rate MBS, and will bear interest at a fixed rate. All bonds pay interest on the first day of each month, beginning Dec. 1, 1999, and mature on Oct. 1, 2032. Bonds will initially bear a variable rate during the acquisition period. The variable rate during this period equals the GIC rate minus
