CHICAGO -- The long-awaited financial bailout of East St. Louis, Ill., will take place within the next two weeks when $25 million of bonds are scheduled to be sold to pay off the city's debts and restructure its existing bonds

On Friday, the East St. Louis Financial Advisory Authority board gave its final approval to the debt plan, following the plan's approval Thursday night by East St. Louis city council members. Illinois formed the authority to oversee the city's finances.

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