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VRDO |
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Both series will be variable rate demand obligations with series 2007F insured by MBIA Insurance Corp. The series 2006C and 2006D bonds (bonds), which will be issued as variable rate demand obligations (VRDOs), are expected to be insured by MBIA, whose insurer financial strength (IFS) is rated 'AAA' by Fitch, and are also expected to be supported by an external liquidity facility. The bonds are expected to be issued as variable rate demand obligations with liquidity support provided by a standby bond purchase agreement (SBPA). |
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