New Jersey’s Local Finance Board Wednesday approved a lease-back bonding plan between Newark and the Essex County Improvement Authority that will help the state’s largest city fill an $83 million deficit in the current-year budget.

Jim Paganelli, the authority’s executive director, said he anticipates releasing Thursday or Friday a request for proposals for underwriters for the bond deal. Acacia Financial Group is the financial adviser working on the lease-back borrowing plan. The authority anticipates issuing the bonds in late November.

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