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The "bolt" is probably a lag screw. It might be possible to get to the inside of the hull where the lag screw is. You will probably have to remove your gas tank, and other stuff in the way. If you can, replace the lag screw with a stainless bolt, washer, and nylock nut. I use "Boat Life" boat caulk to seal everything. If it is very confined where the nut will be on the inside of the hull, you might have to tape a nut into a wrench to hold the nut until the nut starts.
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