DALLAS - Texas state agencies and universities expect to issue about $2 billion in bonds and commercial paper for fiscal 1995, as debt sales continue to slow down from peak times, according to Bond Review Board estimates.

In its annual report released yesterday, the Texas agency said its survey of more than 20 state-level issuers indicated that the agencies plan to sell about $1.45 billion in new-money debt and refund about $595 million in existing debt for fiscal 1995, which began Sept. 1.

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