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State to Authorize Arena Bonds Next Tuesday

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A newly formed state agency, the Brooklyn Arena Local Development Corp., will authorize the issuance of bonds for Barclays Center construction next Tuesday, the latest step in securing the nearly $700 million needed to build what could be billed "the world's most expensive arena". It's uncertain how soon after that the bonds will be marketed and sold. The Nets face a Dec. 31 deadline on financing.