The rating on Maricopa County Industrial Development Authority, Ariz.'s bonds is based on a direct-pay LOC provided by Wells Fargo Bank (AA-/A-1+). The initial LOC will provide for payment of regularly scheduled principal and interest as well as unremarketed tendered bonds for a maximum of 45 days at 10% per annum. The anticipated stated expiration date is Dec. 20, 2007. Upon nonreinstatement of interest of the LOC, the bonds are subject to acceleration. Initially the bonds bear interest in the weekly mode and can be converted to bear interest in the monthly, quarterly, semiannual, annual, and fixed interest rate modes. The bonds are subject to optional tender while in the weekly modes upon bondholders providing two business days' notice. The
