I want someone with much more experience than myself to comment. You have enough bolt protrusion to put a piece of copper tubing or plastic over it to get to the exact center to carefully drill it out.Start with the largest bit that fits in the tubing.All you want to do is just dimple the bolt for a exact center.Pick a smaller very high quality bit with a lube to start drilling, slow and carefully. Work your way up.I feel your pain as I also live in the rust belt.I have in my arsenal,left hand center bits to start and left hand twist drill bits.I have had left hand bits walk fasteners out,hopefully with all the good advice here you find a solution.A good thread chaser,not tap,inspect,clean or replace the bolts.Good luck!