CHICAGO — Milwaukee plans to take competitive bids as scheduled Wednesday on $130 million of school cash flow notes but can delay the deal if too steep a penalty is demanded due to market unrest over the Congressional stalemate on the government shutdown and debt ceiling.

The city's school revenue anticipation notes sale is slated as uncertainty remains over whether Congress can strike a deal to reopen the government and raise the debt ceiling to avert a default deadline later this week. Concerned over the market impact, Milwaukee comptroller Martin Matson's office opted last week to issue $50 million of extendible municipal commercial paper for cash flow purposes for the Milwaukee Public Schools.

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