(1) The treasurer and the secretary shall give bond, the amount to be fixed by the directors at not less than the sum likely to come into their hands.
(2) The secretary and treasurer shall, at the close of each semiannual period, file with the board of directors an accurate detailed report of all receipts and disbursements of the chamber of commerce, showing the source of such receipts, and to whom paid and for what purpose. The report shall be sworn to by the secretary and treasurer. If an appropriation has been obtained from the city during the period covered by the report a copy of it shall be filed with the city clerk.