§ 3. The treasurer of such commission shall, before entering upon the
discharge of his duties, execute and file in the office of the
commission his bond or undertaking in the penal sum of twenty-five
thousand dollars, conditioned for the faithful performance of his duties
and the lawful application of all moneys which may come into his hands
as such treasurer. He shall keep a full and accurate account of all
moneys received and paid out by the commission and such account shall at
all times be open to inspection. The treasurer, shall, in the month of
July each year, make and file with the clerk of each such municipality,
a detailed verified report of all receipts and disbursements for the
preceding fiscal year.