DALLAS — With municipal bond volume running about as low as the water levels in its reservoirs, Texas’ Lower Colorado River Authority will supply a parched market with $595 million of refunding revenue bonds this week.

The deal, being priced through negotiation with senior managers Morgan Stanley and Barclays Capital, includes $405 million of Series A and $190 million of Series B bonds for the LCRA’s Transmission Services Corp., a nonprofit electric wholesale extension of the state agency in Central Texas.

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