§ 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.