Before receiving the Drainage Tax Book the county treasurer of each county in which lands of the drainage district are located shall execute to the board of supervisors of the district a bond, with at least two good and sufficient sureties or some surety or bonding company approved by the board, in a sum that is double the probable amount of any annual installment of the tax to be collected by him during any one year, conditioned that the county treasurer shall pay over and account for all taxes so collected by him according to law. Such bond after approval by the board of supervisors shall be deposited with the secretary of the board of supervisors, who shall be custodian thereof and who shall produce it for inspection and use as evidence whenever and wherever lawfully requested so to do.