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<br />106 <br /> <br />FIRST 3'oaUuve.4t- COMPANY <br /> <br />INVESTMENT BANKERS <br /> <br />SOUTHWEST TOWER <br />211 E. SEVENTH, SUITE 707 <br />AUSTIN, TEXAS 78701 <br /> <br />MONTY C. NITCHOLAS <br />SENIOR VICE PRESIDENT <br /> <br />TEL. (512) 476-4372 <br /> <br />October 10, 1988 <br /> <br />Honorable Mayor and City Council <br />City of San Marcos <br />San Marcos, Texas <br /> <br />Council members: <br /> <br />A rule of the Municipal Securities Rulemaking Board, under which we operate, requires <br />that we advise you in writing of our intention to bid for our own account or with others <br />for your $2,660,000 Waterworks and Sewer System Revenue Bonds, Series 1988A, and <br />that we have your written consent to do so. <br /> <br />Our Financial Advisory Agreement, the Notice of Sale and the Official Statement to be <br />mailed to prospective bidders and purchasers of your Bonds shall state: <br /> <br />"First Southwest Company is employed as Financial Advisor to <br />the City in connection with the issuance of the Bonds. The <br />Financial Advisor's fee for services rendered with respect to the <br />sale of the Bonds is contingent upon the issuance and delivery of <br />the Bonds. First Southwest Company may submit a bid for the <br />Bonds, either independently or as a member of a syndicate <br />organized to submit a bid for the Bonds." <br /> <br />It would be appreciated if you would indicate your approval by signing this letter in the <br />space provided below. <br /> <br />Very truly yours, <br /> <br />FIRST SOUTHWEST COMPANY <br /> <br />MN/gd <br /> <br />Monty Nitcholas <br /> <br />The above is understood and agreed to, and we hereby give our consent, this the 10th <br />day of October, 1988. <br /> <br />By <br /> <br /> <br />~1Z ~dr: f}Ý~ <br /> <br />. Ci ty Secretary <br /> <br />