I just learned that bounties from deleted accounts are eliminated from history, with the argumentation that the awarded rep was gained by that user and not by the awarded one. But what about the other direction? Does the rep vanish? Is it refunded? Can it be re-awarded at least?
Well, two questions with two answers.
Does the rep vanish?
Yes because deleted user can't have any reputation.. whatever reputation he got goes to the grave with his account.
Is it refunded / Can it be re-awarded
No, in the bounty wiki page it clearly says:
Please note that once a bounty is started, the reputation is non-refundable under any circumstances