P-Cat Rudder Down

The 3/8" hole in the blade below the rudder housing takes a 3/8"x3" wooden dowel. When I got the boat there was a loop of 1/4" bungee cord wrapped around the blade and dowel as you see here.

The bungee is shot, and needs to be replaced. With new bungee cord, I could believe it would do an ok job of holding the blade down. But I don't know if this is how the rudder was originally set up. If you have any idea how the P-Cat rudders were originally set up, please let me know.