(a) A person elected to the board shall qualify for office by executing:
(1) a written oath; and
(2) a good and sufficient surety bond for $5,000 that is:
(A) in the form prescribed by the board;
(B) payable to the district; and
(C) conditioned on the faithful performance of the director's duties.
(b) Each director's bond shall be kept in the district's permanent records.
(c) The board may pay for directors' bonds with district funds.