The New Jersey Economic Development Authority yesterday approved selling up to $510 million of state-contract school construction bonds, with proceeds supporting infrastructure projects through the end of December.

Merrill Lynch & Co. will serve as senior manager on the deal. P.G. Corbin & Co. is the financial adviser and Wolff & Samson PC is bond counsel. Bank of America NA will provide a letter of credit on the variable-rate portion of the transaction.

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