In lieu of acquiring lands and meadows under the provisions of section 27:16-13 of this title, the board may, by a two-thirds vote, contract with the owner, possessor or holder of adjacent lands and meadows to maintain the banks and ditches along, upon and over the adjacent lands or meadows for the protection of county roads. The amount agreed upon as the county’s share for such maintenance shall be paid from the county funds appropriated for road maintenance.