State v. City of Pensacola

This is an appeal from a decree of the Circuit Court of Escambia County validating the issuance of $522,-000.00 proposed refunding bonds, issue of 1935, as authorized by the Florida General Refunding Act, Chapter 15772, Acts 1931, Laws of Florida, and Amended Section 6 of Article IX of the State Constitution. The bonds in question are designed to evidence an extension or renewal, in a new form, of the original existing indebtedness of the obligor municipality, which indebtedness is provided not to be extinguished, but merged into the proposed refunding bonds, with like force and effect as if…