CHICAGO — The Metropolitan Water Reclamation District of Greater Chicago is conducting its first request for proposal process for underwriters as it prepares to sell $500 million of mostly Build America Bonds before the end of the year to help finance a long-term capital program of more than $2.5 billion.

“We again have capital needs and it would be malfeasance not to take advantage of the BAB program,” said Harold Downs, the triple-A rated district’s treasurer. The district also expects to issue some non-BAB taxable bonds and may include a piece of tax-exempt debt, depending on interest rates.

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