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.