Whenever a city has an outstanding indebtedness evidenced by bonds the legislative body may submit to the electors of the city, at any election held for that purpose, a proposition:
(a)
Declaring all or any of the bonds to be at once due and payable.
(b)
Compromising the bonded indebtedness.
(c)
Consenting to a judgment in favor of the bondholders.
(d)
Providing for the payment of such judgment in installments.