Joint taxation board

(1) (a) Any plan of organization that establishes a joint taxation district shall provide for the creation of a joint taxation district board and shall specify the membership of the board and the method of election or appointment and terms of office for members of the board. A joint taxation district board shall consist of not fewer than five members, with each participating school district board of education entitled to at least one member on the joint taxation district board. (b) The joint taxation district board created pursuant to paragraph (a) of this subsection (1) shall have the powers granted to it in the plan of organization as necessary to implement the provisions of this part 2. These powers may include, but are not limited to: (I) Calling for and certifying elections with regard to bonded indebtedness; (II) Calling for and certifying elections to raise and expend local property tax revenues in excess of the participating school districts' total program, pursuant to section 22-54-108 or 22-54-108.5; (III) Any other powers that a school district may have with regard to issuing, paying, or refunding bonded indebtedness of the joint taxation district. (2) For purposes of calling for and certifying elections with regard to bonded indebtedness, revenue, or spending limits that are under the authority of the joint taxation district board pursuant to the plan of organization, the joint taxation district board shall assume the powers and duties granted by law to a school district or a school district board of education.