LOS ANGELES -- California plans Wednesday to sell the municipal market's largest taxable deal -- a $602 million issue -- to fund projects concerning housing, hazardous substance cleanup, and earthquake protection.

The sale marks California's first taxable general obligation bond sale. Bids are scheduled to be opened on Wednesday. Other municipal issuers -- such as New York City and the Puerto Rico Housing Finance Corp. -- have sold large long-term taxable issues in recent years, but California's proposed GO sale sets a record, according to Securities Data Co./Bond Buyer figures.

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