Before entering upon his or her duties, the county engineer shall make and enter into a surety bond in the amount of twenty-five thousand dollars ($25,000) payable to the county, conditioned for the faithful discharge and performance of his or her duties as such engineer, and for the faithful accounting of all monies or property of the county, which may come into his or her possession or custody. The bond shall be executed by a surety company authorized and qualified to do business in Alabama, and shall be approved by each county commission. The premiums on the bonds shall be paid by the county.