DALLAS -- Enid, Okla., officials say Sanwa Bank has declined to extend letter-of-credit backing for a 1987 issue because the bank plans to curtail credit enhancement for cities with populations of 100,000 or less.

"They said they were going to redline municipalities of under 100,000 population," said Morris Hatley, president of Leo Oppenheim & Co., financial adviser to Enid. He said bank officials said they would not seek new agreements or extend existing ones with cities of that size.

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