The secretary-treasurer of each district shall, within ten days after the election, execute to the county and file with the county clerk a bond of not less than two thousand dollars in any instance nor less than the amount of money, as nearly as can be ascertained, to come into his hands as secretary-treasurer at any one time, with a surety company or companies of recognized responsibility as surety or sureties, to be approved by the president of such district, conditioned for the faithful discharge of the duties of his office. The premium on the bond shall be paid by the district. The bond when approved shall be filed in the office of the county clerk of the county wherein the rural or suburban fire protection district is situated. If the district is located in two or more counties, such bond shall be filed in the office of the county clerk of the county wherein the largest number of petitioners who signed the original petition shall have resided. If the secretary-treasurer shall fail to execute such bond, his office shall be declared vacant by the board, and the board shall immediately appoint a secretary-treasurer, who shall be subject to the same conditions and possess the same powers as if elected to that office. The secretary-treasurer shall have no power or authority to withdraw or disburse the money of the district prior to his filing the bond herein required.