(a) Each director shall qualify by giving bond in the amount of $5,000 for the faithful performance of the director's duties.
(b) The directors' bonds shall be recorded in a record kept for that purpose in the district's office.
(c) The treasurer shall give bond in the amount required by the board. The treasurer's bond shall be conditioned on the treasurer's faithful accounting for all money that comes into the treasurer's custody as treasurer of the district.