(a) The board of a municipal improvement district shall appoint the collector and treasurer of the district, who shall take the oath of office required by § 14-88-302 and shall execute bond to the chairman of the board, each in a sum at least equal to twice the amount of moneys which will probably come to their hands, with good and sufficient security, to be approved by the board. The bond shall be conditioned that they will faithfully discharge the duties of their office and account for and pay over all moneys that may come to their hands according to law and the orders of the board for the district for which they are appointed.
(b) The Cities of Little Rock and Pine Bluff shall have power to provide, by ordinance, that the city collector shall be ex officio collector of improvement districts and to provide the manner of collecting and the compensation to be paid.
(c) The same person may be treasurer or collector of one (1) or more districts in the city or town, but the moneys of the different districts shall be kept separately.
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