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CALIFORNIA: I-Bank Bonds Rated.

The Bond Buyer

| September 02, 2005 | Saskal, Rich | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Standard & Poor's on Tuesday assigned its rating of A to a forthcoming California Infrastructure and Economic Development Bank transaction to reimburse the California general fund for emergency loans it made to three distressed school districts.

The bond sale, expected late this month or early next, will finance loans of $61.6 million for Oakland Unified School District, $17.5 million for West Contra Costa Unified School District, and $49.6 million for Vallejo City Unified School District.

Standard & Poor's said its rating is based on the financing structure that intercepts scheduled state aid to the participating school districts for debt …

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Source: HighBeam Research, CALIFORNIA: I-Bank Bonds Rated.

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