The powers and duties of the Treasurer and the Collector of Taxes shall be the same with respect to the corporation as are the powers and duties of town treasurers and town collectors of taxes with respect to towns. Each shall give a bond to the corporation conditioned for the faithful performance of his or her duties, in such sum and with such sureties as the Board of Trustees shall decide. If a Treasurer or Collector of Taxes does not give such bond within 10 days after election or appointment, the office shall be vacant. (Added 1912, No. 334, § 6.)