The regular election of the district shall be held on the first Tuesday after the first Monday in December in each year thereafter, at which one director shall be elected for a term of three years. The person receiving the highest number of votes is elected thereto. Within ten days after receiving his certificate of election, the director shall take and subscribe the official oath and file it in the office of the county clerk of the county where the organization was effected, and thereupon immediately assume the duties of office. Each member of the board of directors shall execute an official bond in the sum of three thousand dollars ($3,000) which shall be approved by the chairman of the board of county commissioners and recorded in the office of the county clerk. All official bonds shall be in the form prescribed by law for county officials, except that the obligee named in the bond shall be the district. The premiums upon the bonds and any bonds required from any other officer of the district shall be paid by the district.