CHICAGO -- Wayne County, Mich., may sell both tax-exempt and taxable bonds to finance a new Detroit Tigers baseball stadium under a plan outlined by the county in a recent request for qualifications sent to potential senior managing underwriters.

The Tax Reform Act of 1986 ended tax-exempt financing for sports facilities, and the transition rules that allowed certain local governments to issue bonds for stadiums and arenas expired on Dec. 31, 1990. But Wayne County officials apparently believe they can structure a bond deal in such a way that the tax-exempt portion of it passes Internal Revenue Service muster.

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