DALLAS — Arkansas will issue the 25th tranche from a $260 million voter-approved authorization with Wednesday’s competitive sale of $25.4 million of general obligation bonds, proceeds of which will be dedicated to wastewater, drainage, and flood control projects sponsored by local governments.

The bonds are being issued through the Arkansas Natural Resources Commission under an authorization voters approved in November 1998. The enabling legislation limits the total amount of bonds issued under the program to $60 million every two years.

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