CHICAGO -- The federal judge overseeing Detroit’s bankruptcy Friday approved a plan for the city to issue $60 million of debt to finance repairs to its public lighting system.

The deal, which will be conducted through the Michigan Finance Authority as a private placement to Citi, is expected to be the first in a borrowing plan that could total $210 million. A second $150 million bond sale is expected next year. The $60 million borrowing will be issued as short-term notes.

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