CHICAGO — In its second refunding since mid-April, the Wayne County Airport Authority plans to enter the market Wednesday with roughly $330 million in variable-rate demand bonds that will take out all the authority's auction-rate debt.

The transaction comes three months after the authority sold $145 million in fixed-rate bonds that refunded a piece of the airport's variable-rate debt that was insured by Financial Guaranty Insurance Co., the former triple-A monoline insurer that now carries junk-bond ratings.

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