ALAMEDA, Calif. — Most holders of $451.5 million of first-tier revenue bonds issued for the Las Vegas Monorail are prepared to accept $111 million up front and release Ambac Assurance Corp. from its exposure to the defaulted bonds, the bond trustee said in a disclosure filing.

Policyholders would also receive interest-bearing notes to be paid in the future from Ambac surpluses, said the disclosure notice trustee Wells Fargo posted last week on the Municipal Securities Rulemaking Board’s EMMA site.

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