CHICAGO — The Chicago City Council on Wednesday approved the sale of up $750 million of new-money and refunding debt in the city’s first big bond issues proposed by new Mayor Rahm Emanuel, who also submitted an ordinance seeking to rescind the city’s head tax.

The bond ordinances authorize the issuance of up to $500 million of new-money general obligation bonds and up to $250 million of sales tax refunding bonds. The sales tax issue is slated to price in the last week of October and the GO issue during the week Nov. 14, officials said.

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