(a) The county treasurer shall execute a good and sufficient bond, payable to the
commissioners, in an amount equal to twice the amount of funds he will hold at any
time as treasurer of the district. The commissioners shall estimate the sum to be used as a basis for computing the
amount of the required bond. The bond shall be conditioned for the faithful performance by the treasurer of his
duties for the district and must be approved by the commissioners.
(b) When any bonds are voted by the district, the county treasurer, before receiving
the proceeds from the sale of the bonds, shall execute an additional good and sufficient
bond, payable to the commissioners, in an amount which is twice the amount of bonds
issued. This additional bond shall be conditioned and approved in the same manner as the
first but shall not be required after the treasurer has disbursed the proceeds of
the bond issue.
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