CHICAGO - Mayor Richard M. Daley of Chicago yesterday unveiled a plan to issue $300 million of bonds that would be retired with admissions fees from a proposed gambling complex to bail out the beleaguered Chicago Board of Education.

About $120 million of the bond proceeds would be applied to the board's fiscal 1994 budget to help eliminate a projected deficit estimated by the mayor at $325 million. The remainder of the deficit would be eliminated primarily with union concessions, and budget cuts and transfers.

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