Agreements; contents; powers under agreements

Sec. 3. (a) An agreement under this section must provide for the following: (1) Its duration. (2) Its purpose. (3) The manner of financing, staffing, and supplying the joint undertaking and of establishing and maintaining a budget therefor. (4) The methods that may be employed in accomplishing the partial or complete termination of the agreement and for disposing of property upon partial or complete termination. (5) Administration through: (A) a separate legal entity, the nature, organization, composition, and powers of which must be provided; or (B) a joint board composed of representatives of the entities that are parties to the agreement, and on which all parties to the agreement must be represented. (6) The manner of acquiring, holding, and disposing of real and personal property used in the joint undertaking, whenever a joint board is created under subdivision (5)(B). In addition, such an agreement may provide for any other appropriate matters. (b) A separate legal entity or joint board established by an agreement under this section has only the powers delegated to it by the agreement. The agreement may not provide for members, directors, or trustees of the separate legal entity or joint board to make appointments (either individually or jointly) to fill vacancies on the separate legal entity or joint board. (c) Subsection (a)(6) does not apply to an emergency management assistance compact under IC 10-14-5.