ARTICLE 2. Mutilated or Defaced Bonds [53430. - 53440.]

Cal. Government Code - GOV 2.
in effect

Cal. Government Code - GOV § 53430. Section 53430.

As used in this article: (a) “Bond” includes warrant or other evidence of indebtedness. (b) “Local agency” means county, city, irrigation district, reclamation district, school district, or other municipal corporation.

Cal. Government Code - GOV § 53431. Section 53431.

When a bond of a local agency is mutilated or defaced the legislative body shall issue a duplicate if all of the following conditions exist: (a) It appears by clear and unequivocal proof that the bond is so mutilated or defaced as to impair its value to the owner. (b) There is no bad faith on the part of the owner. (c) The bond is identifiable by number and description. (d) The regulations, including restrictions as to time and retention for security or otherwise, prescribed by the legislative body are met.

Cal. Government Code - GOV § 53433. Section 53433.

The owner of the bond desiring a duplicate shall make a written application to the legislative body, stating the facts required by this article.

Cal. Government Code - GOV § 53434. Section 53434.

The owner shall accompany his application with a deposit of money required by the legislative body for the cost of printing, lithographing or otherwise preparing the duplicate, and all other expenses connected with the issuance of the duplicate.

Cal. Government Code - GOV § 53435. Section 53435.

If required by the legislative body, the owner shall also file with his application a bond in the required sum with good and sufficient sureties, to be approved by the legislative body, and conditioned to indemnify the local agency for any claim upon the mutilated or defaced bond.

Cal. Government Code - GOV § 53436. Section 53436.

Upon receipt of the application, the legislative body shall adopt a resolution: (a) Stating the receipt of the application. (b) Stating the compliance with the conditions prescribed in this article and any other conditions required by the legislative body in accordance with this article. (c) Directing the officer in charge of preparing the original bond to cause a duplicate to be issued.

Cal. Government Code - GOV § 53439. Section 53439.

An exchange shall not be made unless the defaced or mutilated bond with any coupons attached is identifiable and is first surrendered by the owner.

Cal. Government Code - GOV § 53440. Section 53440.

When the original is surrendered, the legislative body shall cause proper record to be made of its cancellation and thereafter the duplicate has the validity of the original.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026

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