Edit in JSFiddle

var Conditions = {
    'Number': ['=', '!=', '>', '<'],
    'String': ['Contains', '=', '!='],
    findByType: function(type) {
        for (p in this) {
            if (typeof this[p] === "object" && p == type) {
                return this[p];
            }
        }

        return [];
    }
};

var _columns = [
    {
    Column: 'DeveloperName',
    Display: 'Developer',
    Type: 'String'},
{
    Column: 'IssueID',
    Display: 'Issue ID',
    Type: 'Number'},
{
    Column: 'IssuetTitle',
    Display: 'Issue Title',
    Type: 'String'},
{
    Column: 'IssuetDescription',
    Display: 'Issue Description',
    Type: 'String'}
];

function findFilterColumn(column) {
    for (var i = 0; i < _columns.length; i++) {
        if (_columns[i].Column == column) {
            return _columns[i];
        }
    }

    return null;
};

var Filter = function(column, condition, nextFilterBinaryCondition, type, value) {
    this.ColumnObj = ko.observable(findFilterColumn(column || ""));
    this.ColumnObj.subscribe(

    function(value) {
        this.Value(null);
    }, this);
    this.Column = ko.dependentObservable(

    function() {
        return (this.ColumnObj() != null) ? this.ColumnObj().Column : "";
    }, this);

    this.Condition = ko.observable(condition || null);

    this.NextFilterBinaryCondition = ko.observable(nextFilterBinaryCondition || "AND");

    this.Type = ko.dependentObservable(

    function() {
        return (this.ColumnObj() != null) ? this.ColumnObj().Type : null;
    }, this);

    this.AvailableConditions = ko.dependentObservable(

    function() {
        var conditions = Conditions.findByType(this.Type());
        return conditions;
    }, this);

    this.Value = ko.observable(value || "");
    
    this.IsValid = ko.dependentObservable(
        function () {
            var valueAndColumnAreValid =
                (this.ColumnObj() != null && this.Value() != null && this.Value().length > 0);
    
            return valueAndColumnAreValid;
        },
        this);
};

function ViewModel(columnsSource) {
    this.nextFilterBinaryConditions = ['AND', 'OR'];
    this.columns = ko.observableArray(columnsSource);
    this.filters = ko.observableArray([new Filter()]);

    this.addFilter = function(filterObj) {
        var invalidFilter = ko.utils.arrayFirst(this.filters(), function (filter) {
            return filter.IsValid() === false;
        });
    
        if (invalidFilter == null) {
            var currentIndex = ko.utils.arrayIndexOf(this.filters(), filterObj);
            this.filters.splice(currentIndex + 1, 0, new Filter());
        }
    };

    this.removeFilter = function(filterObj) {
        this.filters.remove(filterObj);

        if (this.filters().length == 0) {
            this.addFilter();
        }
    };

    this.postFilters = function() {
        var items = ko.toJS(this.filters());
        var mappedItems = ko.utils.arrayMap(items, function(filter) {
            delete filter.ColumnObj;
            delete filter.AvailableConditions;

            return filter;
        });

        alert(ko.toJSON(mappedItems));
    };
};

ko.applyBindings(new ViewModel(_columns));

<div id="holder">
<ul id="filtersholder" data-bind='foreach: filters'>
    <li>
        <div class="filter-template">
            <input type="button" class="delete-filter" value="-"
                data-bind="click: function() { $root.removeFilter($data); }" />

            <select data-bind="options: $root.columns,                                
                               optionsValue: Column,
                               optionsText: 'Display',
                               value: ColumnObj">
            </select>

            <select class="opperator"
                data-bind="options: AvailableConditions, 
                           value: Condition">
            </select>
            
            <input type="text" data-bind="value: Value" />            

            <select style="width: 54px;" 
                data-bind="options: $root.nextFilterBinaryConditions,
                           value: NextFilterBinaryCondition">
            </select>

            <input type="button" class="add-filter" value="+"
                    data-bind="click: function() { $root.addFilter($data); }" />
        </div>
    </li>
</ul>

<p>
    <input type="button" id="submitFilters"  value="Submit" data-bind="click: postFilters" />
</p>

</div>

#filtersholder, #submitFilters {
    margin: 10px;
}
.delete-filter, .add-filter {
    width: 24px;
    height: 24px;
}

.opperator {
    width: 80px;
}