A board of county commissioners may negotiate and execute a settlement with the owners of drain warrants and pay the amount of the settlement from the general fund of the county if:

1. Drain warrants issued pursuant to the establishment of a drain in two or more counties remain unpaid;

2. The amounts realized from the original assessments are not sufficient to pay the warrants;

3. An additional assessment would be necessary to meet the deficit; and

4. The board finds the county has received benefits from the drain by reasons of public health, convenience, or welfare and, as a result, may be liable for assessment or

reassessment and the credit of the county is or may be affected by the existence of the outstanding and unpaid warrants.