(a) The State Treasurer may issue a replacement bond, with coupons pertaining thereto, a replacement note or a replacement revenue note, to replace unmatured bonds and coupons, notes or revenue notes, respectively, which have been lost, stolen, mutilated or destroyed upon receipt of:
(1) Satisfactory proof:
(i) of ownership and (ii) of loss or destruction, or, in the case of a mutilated or destroyed bond, coupon, note or revenue note, the mutilated or destroyed bond, coupon, note or revenue note;(2) Adequate security to indemnify the State and the bank or banks at which the bond, coupon, note or revenue note is payable against any loss that may be suffered by them on account of the issuance of such replaced obligation; and
(3) Payment of the cost of preparation of the replacement obligation.
(b) Any replacement bond, coupon, note or revenue note shall be of the same form and tenor as those originally issued, shall be executed by the manual or facsimile signature of the officers in office at the time of the replacement and shall bear an impression or reproduction of the Great Seal of the State or a facsimile thereof. A facsimile of the State Treasurer's signature may appear on coupons but on a bond, note or revenue note the signature of the State Treasurer shall be in the State Treasurer's own proper handwriting. There shall be endorsed on the bond, note or revenue note a statement in substantially the following form:
“This bond (note or revenue note) has been reissued to replace a (lost, stolen, mutilated or destroyed) (bond, note or revenue note).”