- (a) Before assuming the duties of the office, each director or officer must execute a bond for $5,000 payable to the district, conditioned on the faithful performance of the person's duties as director or officer.
- (b) The bond shall be kept in the permanent records of the district.
- (c) The board may pay for the bonds of directors or officers with district funds.
- (d) The board and the district may issue and sell bonds conditioned on the faithful performance of a person's duties as a director as provided by this section.
Added by Acts 2001, 77th Leg., ch. 1295, Sec. 1, eff. June 1, 2001.