(a) Any two (2) or more public agencies may enter into agreements with each other for joint action pursuant to this part. Concurrent action by ordinance, resolution or otherwise of the governing bodies of the participating public agencies shall constitute joint action.
(b) Each such agreement shall specify its duration, the proportionate interest that each public agency shall have in the property, facilities, and privileges involved, the proportion to be borne by each public agency of preliminary costs and costs of acquisition, establishment, construction, enlargement, improvement, and equipment of the airport or air navigation facility, the proportion of the expenses of maintenance, operation, regulation and protection thereof to be borne by each, and such other terms as are required by this section.
(c) The agreement may also provide for:(1) Amendments thereof, and conditions and methods of termination of the agreement;(2) The disposal of all or any of the property, facilities and privileges jointly owned, prior to or upon the property, facilities and privileges, or any part thereof, ceasing to be used for the purposes provided in this chapter, or upon any such disposal, and of any funds or other property jointly owned and undisposed of;(3) The assumption or payment of any indebtedness arising from the joint venture that remains unpaid upon the disposal of all assets or upon a termination of the agreement; and(4) Such other provisions as may be necessary or convenient.
(1) Amendments thereof, and conditions and methods of termination of the agreement;
(2) The disposal of all or any of the property, facilities and privileges jointly owned, prior to or upon the property, facilities and privileges, or any part thereof, ceasing to be used for the purposes provided in this chapter, or upon any such disposal, and of any funds or other property jointly owned and undisposed of;
(3) The assumption or payment of any indebtedness arising from the joint venture that remains unpaid upon the disposal of all assets or upon a termination of the agreement; and
(4) Such other provisions as may be necessary or convenient.
(d) Notwithstanding another law or a private act to the contrary, a joint board established by two (2) municipalities and two (2) counties pursuant to an interlocal agreement entered into pursuant to title 12, chapter 9, for the purpose of operating an airport, is vested with all the powers, rights, duties, and privileges conferred upon a joint board under this chapter and all the powers, rights, duties, and privileges of a regional airport authority under chapter 3 of this title. Such board is a public instrumentality of the creating municipalities and counties and a public body corporate and politic under the laws of this state. Such joint board may file a charter with the secretary of state containing such information as is required for a public nonprofit corporation to evidence the existence of such joint board as a corporate entity and such other information as may be deemed relevant by the joint board. Notwithstanding this part, the governance of the joint board, including the terms of office of the members of the board and the composition of the board, must be set forth in the interlocal agreement creating the joint board and not by any other provision of this title.