Rhode Island § 45-12-13 - Indebtedness of Towns and Cities

§ 45-12-13. Repair or replacement of damaged bond or note.

Whenever the board is satisfied that any instrument or printed or written paper presented to it is in fact a valid bond or note of the city or town, but it is so damaged that its condition is as to hinder and prevent the owner or holder of a bond or note from making good delivery of the bond or note, the board may upon payment to it by the owner or holder of the bond or note, of a sum that it deems necessary to cover the actual expense involved, cause the damage to be repaired or remedied by requiring the proper officers of the city or town, to sign the bond or note in place of their damaged or destroyed signatures or those of their predecessors in office, to issue a duplicate bond or note, or to do 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 the original, which shall be cancelled immediately, and the repaired or duplicate bond or note shall be treated in all respects as a valid obligation of the city or town, as the case may be. On every repaired or duplicate bond or note the city treasurer or town treasurer shall certify on the back that the bond or note has been repaired or issued under the provisions of this section and the certification shall be conclusive proof that the bond or note has been repaired or issued in accordance with the requirements of the board and that it is a valid obligation of the city or town, as the case may be, in accordance with its terms.