CHICAGO - The Indianapolis Local Public Improvement Bond Bank will enter the market next week with $164 million of refunding bonds in a move that will nearly complete the city's effort to eliminate the bulk of its variable-rate debt.

The sale comes several weeks after the bond bank, which is Indianapolis' borrowing arm, refunded $550 million of costly variable-rate water debt into a fixed-rate mode. After next week's sale, the city will have reduced its variable-rate debt exposure by 90%.

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