New York City finance officials say they have structured Tuesday's general obligation bond deal of about $1 billion by offering investors a debt mix that will allow the issue to sail through an uncertain municipal market.

The bond issue, underwritten by a syndicate group led by Lehman Brothers, continues a trend of city issues featuring a combination of securities designed to lessen the city's reliance on straight GO debt. The deal includes straight tax-exempt general obligations, taxable and derivative products capital appreciation bonds, and variable-rate securities that resemble commercial paper.

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