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State Expects to Market Arena Bonds Soon

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The Empire State Development Corp., Bruce Ratner's partner in Barclays Center, plans to issue tax-exempt bonds for the arena even before the Court of Appeals rules on the critics' eminent domain case. The ESDC has a Dec. 31 deadline to sell the bonds. The plan is to market them beginning in September. The court appeal will be heard Oct. 14. The bond sale is expected to generate as much as $650 million.