The president of the university shall be secretary of the board of regents but he or she shall not have the right to vote; as such he or she shall be the recording officer of said board, shall attest all instruments required to be signed by the board president, shall keep a true record of all the proceedings of the board, and shall perform all the duties pertaining to the office and do all other things required of him or her by the board. The secretary shall give a bond in the penal sum of not less than five thousand dollars conditioned for the faithful performance of his or her duties as such officer: PROVIDED, That the university shall pay the fee for such bond.