§ 45-12-13 - Repair or replacement of damaged bond or note.
SECTION 45-12-13
§ 45-12-13 Repair or replacement ofdamaged bond or note. – Whenever the board is satisfied that any instrument or printed or written paperpresented to it is in fact a valid bond or note of the city or town, but it isso damaged that its condition is as to hinder and prevent the owner or holderof a bond or note from making good delivery of the bond or note, the board mayupon payment to it by the owner or holder of the bond or note, of a sum that itdeems necessary to cover the actual expense involved, cause the damage to berepaired or remedied by requiring the proper officers of the city or town, tosign the bond or note in place of their damaged or destroyed signatures orthose of their predecessors in office, to issue a duplicate bond or note, or todo whatever else the board may require of them to repair or remedy the damage.But no duplicate bond or note shall be issued except upon the surrender of theoriginal, which shall be cancelled immediately, and the repaired or duplicatebond or note shall be treated in all respects as a valid obligation of the cityor town, as the case may be. On every repaired or duplicate bond or note thecity treasurer or town treasurer shall certify on the back that the bond ornote has been repaired or issued under the provisions of this section and thecertification shall be conclusive proof that the bond or note has been repairedor issued in accordance with the requirements of the board and that it is avalid obligation of the city or town, as the case may be, in accordance withits terms.