STRUM, Circuit Judge:
Appellants, as plaintiffs below, sued the City of Arcadia, Florida, in an action at law to recover interest on refunding bonds issued by said City, at the interest rate fixed in the original bonds rather than at lower rates fixed by the refunding resolution of the City Council pursuant to which the refunding bonds were issued.
On July 1, 1937, the defendant City had outstanding a bonded indebtedness of $1,064,000 principal, with $388...
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