Addressing infrastructure improvements has taken on renewed importance in many of the nation's largest cities this year, as New York, Chicago, and others are emphasizing needs such as road and bridge repairs over new construction projects.

Many of the infrastructure projects in the second half of 1994 will be financed by the proceeds of municipal bonds sold last year, finance directors in most of the countries' major cities say. The largest cities, most experts agree, will still have a large demand for bonds the rest of the year, even though overall municipal issuance is expected to be lower in 1994 than in the last two years.

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