(a) The board may require all district officers and employees charged with handling money to furnish a good bond for not less than $5,000 that is:
(1) payable to the district;
(2) conditioned on the faithful performance of the officer's or employee's duties; and
(3) signed by a surety company authorized to do business in this state.
(b) The board may pay for the bond with district money.
(c) The district shall pay the premiums on the bond.