CHICAGO — If federal interest rate subsidies for Build America Bonds are reduced either because of sequestration or a federal deficit deal, Columbus, Ohio, is planning to respond.

Columbus Auditor Hugh J. Dorrian intends to ask the City Council next month for authority to refund up to $475 million of Build America Bonds and recovery zone economic development bonds should federal subsidies be cut under sequestration or in a deal to avoid the fiscal cliff.

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