CHICAGO - Chicago will enter the market next week with up to $560 million of fixed-rate, double-A rated second-lien water revenue bonds to fund an ongoing $728 million capital program and refund outstanding debt.

The city, which has long insured nearly all of its general obligation and revenue-backed debt, will take insurance bids, but the decision on whether to go with insurance won't be made until pricing. Given the current credit crunch, the underlying credit will matter more, said several investors.

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