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MIEHLS v. CITY OF INDEPENDENCE

No. 49367.

88 N.W.2d 50 (1958)

D. G. MIEHLS, Appellant, v. The CITY OF INDEPENDENCE, Iowa, Appellee.

Supreme Court of Iowa.

As Modified April 10, 1958.

Rehearing Denied May 9, 1958.

Attorney(s) appearing for the Case

Carleton Sias, Waterloo, for appellant.

Robert J. Pattee, Independence, for appellee. Edwin B. Carpenter, Des Moines, amicus curiae.

THOMPSON, Justice.

The plaintiff is the holder of five electric revenue refunding bonds of the defendant city, each in the face amount of $1,000, 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 hereafter refer to these as the 1949 bonds. These bonds were payable $30,000 on November 1 of each...

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