Constructive consent of holders of outstanding indebtedness; procedure for obtaining consent; petition.

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(2) The petition shall further state what percentage of owners or holders of bonds or other evidences of indebtedness have become parties to the contract. The percentage shall be not less than 80 percent of those owners or holders. The petition shall further set forth what steps have been taken to get the consent of all nonconsenting owners or holders of the bonds or other evidences of indebtedness. [Formerly 545.320]


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