DALLAS — Arkansas will refund three series of highway bonds with this week’s negotiated sale of $256.97 million of five-year general obligation bonds that will lower debt-service costs in fiscal 2011 by an anticipated $11 million.

Mark McBryde, executive vice president and director of public finance at Stephens Inc., the sole underwriter on the issue, said the state is taking advantage of an opportunity to refund highway bonds issued in 2000, 2001, and 2002.

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