Whenever a city has an outstanding indebtedness evidenced by bonds the legislative body may submit to the electors of the city, at any election held for that purpose, a proposition: (a) Declaring all or any of the bonds to be at once due and payable. (b) Compromising the bonded indebtedness. (c) Consenting to a judgment in favor of the bondholders. (d) Providing for the payment of such judgment in installments.
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