Boston officials who last week disbanded the city's negotiated underwriting syndicate said Wednesday they will sell an upcoming bond issue by competitive bid, rather than set up a new underwriting team.

Amid a growing investigation into possible conflicts of interest on several negotiated state-level bond issues, a competitive sale "provides the best means for achieving the lowest borrowing costs for Boston taxpayers in a completely open and fair bidding process," the city's acting mayor, Thomas M. Menino, said in a statement.

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