§ 164.00 Reissuance of lost, destroyed, partially destroyed or defaced\nobligations.
a.The finance board may issue a new bond, note or coupon\nto replace one lost, destroyed, partially destroyed or defaced.\nHowever, the finance board may, by resolution, delegate such power to\nthe chief fiscal officer or the fiscal agent, as the term "fiscal agent"\nis defined in paragraph a of section 70.00 of this chapter, in which\nevent the chief fiscal officer or the fiscal agent, as the case may be,\nshall exercise such power until the finance board, by resolution, shall\nelect to reassume the same. Notwithstanding the foregoing, in the case\nof the city of New York, if the finance board has, by resolution,\ndelegated such power to the chief fiscal officer, the chief fiscal\nofficer may delegate
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§ 164.00 Reissuance of lost, destroyed, partially destroyed or defaced\nobligations. a. The finance board may issue a new bond, note or coupon\nto replace one lost, destroyed, partially destroyed or defaced.\nHowever, the finance board may, by resolution, delegate such power to\nthe chief fiscal officer or the fiscal agent, as the term "fiscal agent"\nis defined in paragraph a of section 70.00 of this chapter, in which\nevent the chief fiscal officer or the fiscal agent, as the case may be,\nshall exercise such power until the finance board, by resolution, shall\nelect to reassume the same. Notwithstanding the foregoing, in the case\nof the city of New York, if the finance board has, by resolution,\ndelegated such power to the chief fiscal officer, the chief fiscal\nofficer may delegate such power to the fiscal agent, in which event the\nfiscal agent shall exercise such power until the chief fiscal officer\nshall elect to reassume the same.\n b. If the bond, note or coupon is claimed to be lost or destroyed, the\nowner shall furnish:\n 1. Proof of ownership.\n 2. Proof of loss or destruction.\n 3. In the case of a coupon, and in the case of a bond or note if such\nbond or note was payable to bearer, security to be approved by the\nfinance board, chief fiscal officer or fiscal agent, as the case may be,\nsufficient to indemnify the municipality, school district or district\ncorporation against any loss or damage that may be incurred by it on\naccount of the bond, note or coupon so claimed to be lost or destroyed.\nSuch security, when the approval of the finance board, chief fiscal\nofficer or fiscal agent, as the case may be, has been indicated thereon,\nshall be filed in the office of the clerk or similar officer of the\nmunicipality, school district or district corporation.\n 4. Payment of the cost of preparing and issuing the new bond, note or\ncoupon.\n c. If the bond, note or coupon is defaced or partially destroyed, the\nowner shall surrender such bond, note or coupon and pay the cost of\npreparing and issuing the new bond, note or coupon.\n d. The new bond, note or coupon shall be of substantially the same\nform and tenor as the one originally issued, except that it shall be\nsigned either by (i) the manual or facsimile signature of the\nappropriate person or persons in office at the time of the reissuance,\nor (ii) the facsimile signature of the appropriate person or persons in\noffice at the time of the original issuance or any time between original\nissuance and reissuance. The new bond or note shall be authenticated in\nthe manner provided in section 61.00 of this chapter. If the bond, note\nor coupon is issued in the place of one claimed to be lost or destroyed,\nit shall in addition state upon the back thereof that it is issued in\nthe place of such bond, note or coupon claimed to have been lost or\ndestroyed, and, where applicable, that adequate security for its payment\nin full at maturity is filed with the municipality, school district or\ndistrict corporation. The fiscal agent shall make an appropriate entry\nin his records of any new bond, note or coupon issued pursuant to this\nsection.\n e. If the finance board, chief fiscal officer or fiscal agent, as the\ncase may be, shall refuse to issue a new bond, note or coupon in the\nplace of one claimed to be lost or destroyed, the owner may petition the\nsupreme court in the district where the municipality, school district or\ndistrict corporation is situated, and after hearing the allegations and\nproofs the court may order the issuance of such new bond, note or coupon\nupon the payment of the cost of the preparation and issuance thereof and\nthe furnishing by the owner to the municipality, school district or\ndistrict corporation of such security as the court may direct.\n