California Government Code 53461 – The legislative body of a local agency may issue a new bond similar …
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The legislative body of a local agency may issue a new bond similar to the original to replace it if:
(a) By competent proof it is made to appear to the legislative body that a bond issued by the local agency is lost or destroyed.
Terms Used In California Government Code 53461
- Bond: includes warrant or other evidence of indebtedness. See California Government Code 53460
- Local agency: means county, city, irrigation district, reclamation district, school district, sanitary district, or other municipal or public corporation. See California Government Code 53460
(b) The owner gives an undertaking approved by the legislative body to indemnify the local agency against any loss incurred on account of the bond.
(c) The owner pays all cost of the issuance of the new bond.
(Amended by Stats. 1982, Ch. 517, Sec. 257.)