CHICAGO - Stevens Point, Wis., next week will close on the sale of $3.65 million of taxable general obligation promissory notes - possibly the first such deal under the new Build America Bonds program that was included in the federal stimulus package.

Taking advantage of the new program, which some market participants have said could generate $1.5 billion in issuance, the Stevens Point Common Council approved the deal last week, with the closing set for Tuesday.

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