(a) The commission shall appoint a collector and a treasurer for the district.
(b) These officers shall execute bonds to the commission in sums equal to two (2) times the amount of money which will probably come into their hands, with good and sufficient security to be approved by the commission, conditioned that they will faithfully discharge the duties of their office and account for and pay over all moneys that may come into their hands, according to law and the order of the commission.
(c) The collector shall receive a sum not to exceed two percent (2%) and the treasurer not to exceed one percent (1%) of the moneys that come into his or her hands for the services performed.