Section 53461 Of Article 3. Lost Or Destroyed Bonds From California Government Code >> Division 2. >> Title 5. >> Part 1. >> Chapter 3. >> Article 3.
53461
. 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.
(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.