SECTIONS 53240-53247 - California Statutes

WATER CODE

SECTION 53240-53247

53240. When the board is convinced by clear and unequivocal proof
that a warrant of the district, without bad faith on the part of the
holder, has been lost, destroyed, or so mutilated or defaced as to
impair its value to the holder, and when such instrument is capable
of being identified by number and description, the board may issue or
cause to be issued a duplicate thereof having the same maturity,
bearing like interest, and having the same number as the warrant
proved to have been lost, destroyed, mutilated or defaced.

53241. A holder desiring to have a duplicate warrant issued shall
make a written application to the board stating the facts, and shall
accompany the application with a deposit of such a sum of money as is
required by the board to cover the cost of preparing and issuing the
duplicate.

53242. The holder of a lost or destroyed warrant shall file, with
the application, a bond in double the face value of the lost or
destroyed warrant.

53243. The bond must be approved by the board and conditioned to
indemnify and save harmless the district for any claim upon the lost
or destroyed warrant.

53244. The bond of indemnification shall be executed jointly and
severally by the holder and a corporate surety approved by the board
and duly authorized to do business, and doing business, in the State.

53245. The holder of a mutilated or defaced warrant shall, at the
time of filing the application for a duplicate, deliver the mutilated
or defaced warrant to the board for cancellation.

53246. The board, upon receipt of an application for the
replacement of a lost, destroyed, mutilated, or defaced warrant,
shall pass a resolution stating the facts, the filing of the
application, the compliance with the conditions prescribed in this
article and directing the officer who supervised the preparation and
issuance of the original warrant to issue or cause to be issued a
duplicate thereof.

53247. The duplicate warrant shall be signed by the same officers
and issued in all respects as nearly as possible as the original
instrument, and shall have all the force, effect and validity of the
original warrant.