CHICAGO — The Chicago Board of Education on Wednesday paved the way for a Chicago Public Schools sale of up to $800 million of new-money and refunding general obligation debt and qualified school construction bonds as soon as next month to help pay for the 2011 capital budget and ease an operating deficit.

The board approved an amended resolution raising the authorized borrowing level by $100 million to $800 million, although CPS may use the full amount in the upcoming issues.

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