New Jersey is seeking letters of credit for up to $800 million of school construction debt issued by the New Jersey Economic Development Authority.

In addition, the state has said James Petrino will succeed Nancy Feldman as director of the Office of Public Finance. Feldman left the position when Gov. Chris Christie took office on Jan. 19. Petrino was deputy director under Feldman. He has been with the office for 16 years.

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