3709 - Penalties of certain bonds.

§ 3709. Penalties  of  certain  bonds.    Whenever  a  school district  officer is required to furnish a bond under the  provisions  of  section  thirty-seven hundred eight in the penalty of double the amount of moneys  apportioned  or  to be received, and such district officer furnishes the  bond of a surety or  bonding  company  authorized  by  law  to  transact  business in this state and to execute such bond, the penalty thereof may  be  fixed  at  the amount of moneys so apportioned or to be received, in  lieu of the double penalty prescribed in such section.