CHICAGO — The Metropolitan Water Reclamation District of Greater Chicago board of commissioners on Thursday advanced the plans for a $500 million sale of mostly Build America Bond in mid-December, though officials said the timing, size, and mix of securities hinge on interest rates.

“The market is in shambles but we are proceeding as planned for now,” said the triple-A rated district’s treasurer, Harold Downs. “We could move maturities around, back off from doing BABs, and do more tax-exempt or borrow less if interest rates keep rising.”

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