DALLAS —  The Waco Independent School District is coming to market next week with the second and final slice of a $172.5 million bond package approved in May 2008 to update aging facilities, following an upgrade to AA-minus from A-plus from Standard & Poor’s.

The central Texas school system plans to offer $45.5 million of school building bonds through a negotiated sale. The underwriting syndicate includes Piper Jaffray & Co., Southwest Securities Inc., First Public LLC, Raymond James & Associates Inc., and Stifel Nicolaus & Co.

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