CHICAGO - Wayne County, Mich., officials said they plan to issue up to $500 million in taxable bonds in fiscal 2010 to cover about half of its roughly $888 million unfunded liability for its accrued retiree health-care costs.

Whether the county will issue general obligation bonds or certificates of participation depends on a bill pending in the Michigan Legislature that would allow local governments to bond for their unfunded other-post employment benefits. Passed earlier this year by the Democratic-controlled House, the bill is currently before the Senate Appropriations Committee.

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