CHICAGO — The trustee for $39 million of appropriation revenue bonds issued for a failed artificial sweetener plant in Moberly, Mo., has decided to give up on efforts to sell the half-built plant to a new developer and now intends to auction off the project's assets this fall.

The decision marks the latest development in a saga that unfolded over the last year leaving bondholders in the lurch, raised questions over Missouri's economic development assistance policies and resulted in Moberly's loss of investment-grade status. Local, state and federal regulators are conducting probes of the project's failure.

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