ATLANTA -- The Kentucky Turnpike Authority plans to sell $150 million of tax-exempt lease bonds early next year following a recent ruling by the state Supreme Court that squelched a longstanding challenge to the agency's authority to issue such bonds, the state's debt manager said yesterday.

Don Mullis, executive director of Kentucky's Office of Financial Management and Economic Analysis, said the authority had been moving forward with the issue on the assumption that the court would rule in its favor. Responses to requests for proposals have been received within the last few days, and the authority hopes to conduct a negotiated sale by the end of January, he said.

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