The rating on West Contra Costa Unified School District, Calif.'s TRANs reflects: The district's pledge of unrestricted taxes, revenues, and other monies attributable to fiscal 2002; The district's early set-aside of TRAN repayment amounts; and Strong coverage of the TRAN repayment amount by projected available net general fund cash balances at fiscal year-end 2002. The district has pledged to set aside repayment amounts equal to 50% of the principal amount of the notes in January 2002, 50% in May 2002, and an amount equal to the interest due in June 2002. Overall coverage of the TRAN repayment amount by projected net available general fund cash balances at fiscal year-end 2002 is a strong 1.55 times (x). When other borrowable sources
