CHICAGO — Milwaukee yesterday sold $12 million of its planned $50 million qualified school construction bond issue for the Milwaukee Public Schools, putting the remainder off until next year, when it will use a negotiated sale.

The city, which was required initially to use a competitive sale for the general obligation issue under Wisconsin state law, took bids on Dec. 9 on the $50 million deal. After receiving only one bid on the tax-credit bonds, which were created in the federal stimulus package, at a slightly higher rate than city Comptroller W. Martin Morics' office had hoped to capture, officials decided to reject the bid and try again yesterday.

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