Any such application shall be presented to the board of county commissioners of said county at its next regular meeting. If it appears to the satisfaction of the board that it will be to the best interest of the county and the circumstances of the case are such that the same is advisable, the board may, by proper resolution duly adopted authorize such stipulation, modification, quitclaim, release, partial release, discharge, extension, agreement, satisfaction, partial satisfaction, or subordination or other contract or agreement which will effect the purpose desired. Upon such resolution becoming effective and the payment of any sum specified, the chairman of the board of county commissioners and the county auditor shall be authorized to execute any such instrument on behalf of the county.
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