DALLAS — San Antonio, the largest bond issuer in the Southwest for the first half of 2012, plans to issue $1.1 billion of debt through 2016 to finance improvements and expansion of its water and sewer system as drought adds urgency to the city’s conservation efforts.

For all the projects under the five-year capital improvement program, the city expects to invest $1.43 billion, with some of the cost covered by revenues and impact fees.

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