Authorised and issued $4,500,000 at 96 for public works, including Cali-Buenaventura highway. secured on revenues from certain taxes.
Interest and Sinking Fund in default from 1st June 1932. Redeemable by 1948 against sinking fund. Exchangeable for Colombian 3% bonds from 1949 at $1200 new for $1000 old. Most bonds exchanged.