The rating on Park Village, Ill.'s bonds is based on the village's: Participation in the Chicago metropolitan area's deep and diverse economy, High wealth levels, Strong finances with good reserves, and Moderate debt burden. Oak Park (population 54,600), located eight miles west of downtown Chicago, is a home-rule community. Founded at the end of the 19th century and incorporated in 1902, the village is 4.6 square miles in area and is landlocked by Chicago on its eastern and northern borders and by other Cook County suburbs on its other borders. The village is primarily residential with a wide variety of rental- and owner-occupied housing, and is highly attractive to families seeking a near-urban lifestyle in a suburban setting. The village
