The rating on Illinois Development Finance Authority's bonds, issued for Lake County Community Unit School District No. 116 (Round Lake), reflects the security provided by an irrevocable intercept of general state aid to a trustee in amounts sufficient to meet debt service requirements. In conjunction with the local government financing assistance program outlined in Illinois State Statutes 35:5, 1 et seq., the authority will purchase the district's GO bonds. Pursuant to statutory provisions, the school district has adopted a resolution that directs the state board of education, the state comptroller, and state treasurer to directly pay to the bond registrar the district's general state aid payments until the bonds' principal and interest requirements are met each year. The district expects
