ATLANTA -- Georgia is adding some spice to the competition for lead manager of its upcoming negotiated offering of $600 million general obligation refunding bonds: The winner will be one of the four finalists that bids the lowest on a competitive new-money GO issue that will precede the refunding.

Using this apparently unprecedented method, the state auditor said, Georgia hopes to give the firms added incentive to come in with the lowest possible bid for the competitive offering. Bidding on the offering is also open to other firms.

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