The rating on the Maricopa County Industrial Development Authority, Ariz.'s bonds reflects investments with 'AAA' rated providers. At closing, bond proceeds will be deposited into the bond escrow fund and invested with XL Capital Assurance Inc.('AAA'). The investment agreement is scheduled to expire on Feb. 1, 2006, and will pay interest at a rate that exceeds the rate due on the bonds. Excess interest earnings will be rebated back to the federal government. Substitution of the investment agreement requires rating confirmation. The bonds are subject to mandatory tender from remarketing proceeds on the date bonds convert to the permanent rate and on the remarketing date of Sept. 1, 2004. Standard&Poor's rating is in effect through the investment agreement
