The board of commissioners of the municipality as defined in Section 57-1-133, subject to the approval of the boards of supervisors of each county having territory involved, may issue such bonds as may be authorized in the election held for the operation of the enterprise, and may make all contracts for the erection of buildings and structures and the acquisition and purchase of lands, and for the operation of such enterprise. All such contracts so entered into by such commissioners shall not be valid, however, until approved by resolution spread at large upon the minutes of each of the boards of supervisors of the counties having territory included in the municipality.