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CITY OF VERO BEACH v. RITTENOURE INV. CO.

No. 1907.

113 F.2d 269 (1940)

CITY OF VERO BEACH v. RITTENOURE INV. CO.

Circuit Court of Appeals, Tenth Circuit.

Rehearing Denied August 9, 1940.

Attorney(s) appearing for the Case

Austin M. Cowan, of Wichita, Kan., and Robert J. Pleus, of Orlando, Fla. (Charles A. Mitchell, of Vero Beach, Fla., and C. A. McCorkle, W. A. Kahrs, and Robert H. Nelson, all of Wichita, Kan., on the brief), for appellant.

C. H. Brooks and Wayne Coulson, both of Wichita, Kan. (Howard T. Fleeson, of Wichita, Kan., on the brief), for appellee.

Before PHILLIPS, BRATTON, and HUXMAN, Circuit Judges.

HUXMAN, Circuit Judge.

The City of Vero Beach, Florida, is a municipal corporation. On January 18, 1935, it had an outstanding bonded indebtedness of more than $1,400,000, with an interest rate varying from six to eight per cent. On this date, appellee, The Rittenoure Investment Company, submitted a written proposal to appellant for the refunding of its outstanding indebtedness, which proposal was as follows:

"Gentlemen: The undersigned proposes to work out...

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