The funds of the district shall be deposited in accordance with Section 870 of this title and any bond resolutions or indentures issued thereunder. The Chief Executive Officer, the treasurer and all other officers, agents and employees of the district who shall be charged with the collection, custody or payment of any funds of the district shall give bond conditioned on the faithful performance of their duties and an accounting for all funds and property of the district coming into their respective hands, each of which bonds shall be in form and amount and with a surety, which shall be a surety company authorized to do business in the state, approved by the Board, and the premiums on such bonds shall be paid by the district and charged as an operating expense.