13-1425.   Indebtedness of second-class city upon change to first class. Every city of the second class which shall become a city of the firstclass under and by virtue of the provisions of this act is herebyauthorized and empowered to continue and consummate, in the manner providedby acts of the legislature under and by virtue of which it may havecommenced to refund and compromise the same, the refunding and compromisingits bonded indebtedness, upon any terms between it and the owners of itsbonds agreed upon: Provided, That no city shall refund any of itsindebtedness at any amount exceeding the par value of the principal andinterest; nor shall any such city pay any commission fees or expenses toany person whatever on account of refunding any of its indebtedness.

      History:   R.S. 1923, § 13-1425; Dec. 27.