CHAPTER 209

An Act to amend the Code of Virginia by adding thereto a section num-
bered 15-789.3:1, relating to bonds issued by counties, cities and
towns to finance sewage disposal systems, which have been mutilated,
lost or destroyed.

[fH 265]

Approved March 9, 1962

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended by adding thereto a section
numbered 15-739.3:1 as follows:

§ 15-739.3:1. Should any bond issued under this chapter by any
county, city or town become mutilated or be lost or destroyed, the govern-
ing body of such county, city or town may cause a new bond of like date,
number and tenor to be executed and delivered in exchange and substitution
for, and upon the cancellation of, such mutilated bond and its interest cou-
pons, or in lieu of and in substitution for such lost or destroyed bond and
its unmatured interest coupons. Such new bond or coupon shall not be
executed or delivered until the holder of the mutilated, lost or destroyed
bond (1) has paid the reasonable expense and charges in connection there-
with and (2) in the case of a lost or destroyed bond, has filed with the
governing body and its treasurer evidence satisfactory to such governing
body and treasurer that such bond was lost or destroyed and that the
holder was the owner thereof and (3) has furnished indemnity satisfactory
to the treasurer.