(a) Each director shall execute a good and sufficient bond for $5,000 that is:
(1) approved by the commissioners courts of Dallam and Hartley Counties;
(2) payable to the district; and
(3) conditioned on the faithful performance of the director's duties.
(b) The district may provide for a director's bond with district money.
(c) Each director's bond and constitutional oath or affirmation of office shall be kept in the district's permanent records.