The district treasurer shall, at the time of the receipt by him of such bonds, execute and deliver to the president of the board of the district a bond with good and sufficient sureties to be approved by the board, conditioned (a) that he shall account for and pay over as required by law and as ordered to do by the board any and all money received by him on the sale of such bonds or any of them, (b) that he will only sell and deliver such bonds to the purchaser or purchasers thereof under and according to the terms herein prescribed and (c) that he will return, duly cancelled, any and all bonds not sold to the board of supervisors when ordered by the board to do so. Such bond shall remain in the custody of the president of the board of supervisors who shall produce it for inspection or for use as evidence whenever and wherever legally requested so to do. The successor in office of any such district treasurer shall not be entitled to the bonds or the proceeds thereof until he shall have complied with all the foregoing provisions applicable to his predecessor in office.
HISTORY: 1962 Code Section 18-595; 1952 Code Section 18-595; 1942 Code Section 6196; 1932 Code Section 6196; Civ. C. '22 Section 3250; 1920 (31) 663; 1932 (37) 1253.