State v. the City of Miami

TERRELL, J,:

The City of Miami has outstanding $25,823,000 Refunding Bonds of 1940, Series GM, bearing interest at rates ranging from 3% to 4 per cent payable semi-annually in January and July. Of the said bonds, $7,623,000 mature after 1960 and are subject to call July 1, 1945, by the terms thereof provided at least thirty days notice prior to any interest payment date upon which redemption is to be made, is given.

By Resolution Number 18569 of August 16, 1944, the City Commission proposes to issue $7,600,000 of new refunding bonds, 1944 Series GM for the purpose of refunding a like amount of…