CHICAGO — Chicago expects to tap an array of federal stimulus debt programs in its sales of up to $2.85 billion of new-money and refunding general obligation and airport bonds that were submitted to the City Council for approval yesterday, chief financial officer Gene Saffold said.

The finance department submitted authorizations seeking approval to sell up to $875 million of new-money and refunding GOs, up to $1.5 billion of new-money and refunding O’Hare International Airport revenue bonds and up to $500 million of Midway Airport revenue refunding bonds. The city expects to sell the GOs and Midway debt later this year and the O’Hare bonds in the first quarter of 2010.

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