A.
Requirement of oath of office and surety bond. The elected Tax Collector shall, before they enter upon the duties of their office, take and subscribe an oath of office and file the same in the Office of the Clerk of the Court of Common Pleas of Allegheny County. He or she shall enter into one surety bond to the Commonwealth for all taxes to be collected by them, in an amount to be fixed by the Court of Common Pleas of the County, which amount shall never exceed the estimated amount of taxes charged in the duplicates to be delivered to him in one year. Such bond may, at the option of the Tax Collector, be an annual bond or may cover the full term of office for which the Tax Collector shall have been elected. Such bond shall have thereon at least one bonding company, and the sufficiency of the sureties on the bond shall be approved by the Court of Common Pleas at any time prior to the delivery of a tax duplicate to the Tax Collector. The bond shall be filed in the Office of the Clerk of the Court of Common Pleas on or before the 15th day of March of the year in which the Tax Collector qualifies for office and annually thereafter, except where the first bond given by the Tax Collector covers the full term of office for which he was elected.
B.
Condition of bond. The condition of the bond shall be that the Collector as Tax Collector for the Township shall account for and pay over all taxes, penalties and interest received and collected by him to the taxing district entitled thereto.
C.
Use of Township. The bond given by the Township Tax Collector shall be for the "use of Reserve Township."