The 'AAA' rating on the Southern California Home Financing Authority's single family mortgage revenue draw down bonds series 2003 reflects investments with a 'AAA' rated guaranteed investment contract (GIC) provider. At closing, bond proceeds will be deposited into the bond escrow fund and invested with Trinity Funding Co. ('AAA/A-1+'). The GIC is scheduled to expire Nov. 1, 2006. The bonds are scheduled to mature Nov. 1, 2038. The GIC will pay interest at a rate that is equal to the rate due on the bonds. The bonds are subject to mandatory tender on the remarketing dates of Nov. 1, 2004 and Nov. 1, 2005. If there are insufficient remarketing proceeds to purchase all of the bonds outstanding, the bonds will
