Miehls v. City of Independence

The plaintiff is the holder of five electric revenue refunding bonds of the defendant-city, each in the face amount of $1000, bearing date of November 1, 1948. Plaintiff’s bonds are due by their terms on November 1, 1963. They are a part of a total of $450,000, issued by virtue of a resolution of the city, duly enacted on January 24, 1949. We shall hereinafter refer to these as the 1949 bonds. These bonds were payable $30,000 on November 1 of each of the years 1950 to 1958 inclusive, $35,000 on November 1 of each of the years 1959 to 1962 inclusive, and the remaining $40,000 on November 1,…