Sec. 8. The architect employed to supervise the building of world war memorial structures:
(1) shall, at the time of employment, execute a proper bond in an amount fixed by the county executive and with surety to the approval of the county executive;
(2) is liable on the bond for:
(A) any failure in faithfully discharging duties;
(B) all losses and damages that may be incurred on account of negligence; or
(C) violating this chapter; and
(3) is entitled to receive compensation as agreed upon in advance.