DALLAS - Arizona will call on the debt market to help finance schools in the state for the first time since 2005 with this week's negotiated sale of $581 million of certificates of participation by the Arizona School Facilities Board.

The state has been responsible for funding public school construction since 1998, and in 2003, 2004, and 2005 issued similar COPs under an identical program to provide the necessary money. The ASFB currently has $479.3 million in outstanding debt from the five sales during that period.

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