CHICAGO - Michigan's Milan Area School District plans to enter the market early next week with nearly $49 million of taxable general obligation Build America Bonds.

The district, located about 15 miles south of Ann Arbor, decided within the last few weeks to issue BABs over traditional tax-exempt bonds in order to take advantage of the federal interest rate subsidy featured in the new program that will result in an estimated $7 million in interest savings depending on market conditions, said Diana Fleszar, the district's finance director.

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