The rating on Maricopa County Industrial Development Authority, Ariz.'s bonds reflects investments with 'AAA' rated providers. At closing, bond proceeds were deposited into the bond escrow fund and invested with AIG Matched Funding Corp. ('AAA/A-1+'). The investment agreement is scheduled to expire on Aug. 1, 2006. The bonds will bear interest at a rate equal to the interest paid under the investment agreement. Substitution of the investment agreement requires rating confirmation. The bonds are subject to mandatory tender on Aug. 1, 2004, which may be extended multiple times, but in no event beyond Aug. 1, 2006. The bonds are also subject to mandatory tender upon conversion to the fixed rate. The scheduled conversion date is Aug. 1, 2006. The bonds
