CHICAGO — Bond insurer Syncora Guarantee Inc. filed an objection Wednesday to Detroit's effort to repair its notoriously broken down streetlight system by issuing bonds backed by the city's utility tax.

The lighting plan sets up a new bond-issuing authority that is allowed to borrow up to $160 million of bonds to finance upgrades. Detroit's plan, filed with the bankruptcy court on Oct. 23, calls for the Michigan Finance Authority to privately place the debt with Citibank NA, and lend the proceeds to the authority.

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