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<br /> FIRST <br /> NATIONAL <br /> DANK <br /> OF SAN MARCOS <br /> p.o. Box 887 . San Marcos, Texas 78667-0887 . 512/396-2525 <br /> November 20,1985 IRREVOCABLE LETTER OF CREDIT NO. 032-85 <br /> City of San Marcos <br /> City Hall <br /> San Marcos, Texas 78666 <br /> Gentlemen: <br /> We hereby issue our irrevocable letter of credit in your favor for the <br /> account of San Marcos Telephone Company of San Marcos, Texas, for a sum <br /> or sums not exceeding in the aggregate the sum of Five Thousand Seven <br /> Hundred and no/IOO Dollars ($5,700.00) available by written demand from <br /> the City Manager to the First National Bank of San Marcos, P.O. Box 887, <br /> San Marcos, Texas 78667-0887. <br /> Written demand must be presented to us on or before November 20,1988. <br /> Any written demand must be marked "Drawn under Irrevocable Letter of <br /> Credit No. 032-85." This letter of credit may be cancelled at any time <br /> by written notice from the City Manager. <br /> We hereby engage with you that written notice drawn under and in compliance <br /> with the terms of this letter of credit will be duly honored on presentation <br /> at our office. <br /> Sincerely, <br /> ;t,:; ~I:;: OF SAN MARCOS <br /> Larry Franks <br /> President <br /> COpy OF LETTER OF CREDIT - FINANCE DEPARTMENT <br /> ~vAS PROVIDED WITH THE ORIGINAL. <br /> 123 North Edward Gary at Hopkins <br />