67-10-204. Joint exercise of powers. (1) For the purposes of 67-10-204 through 67-10-206, unless otherwise qualified, the term "public agency" includes municipality, as defined in this title; any agency of the state government and of the United States; and any municipality, political subdivision, and agency of another state; and the term "governing body" means the governing body of a county or municipality and the head of the agency if the public agency is other than a county or municipality.

(2) All powers, privileges, and authority granted to any municipality by this chapter may be exercised and enjoyed jointly with any public agency of this state and jointly with any public agency of any other state or of the United States to the extent that the laws of such other state or of the United States permit such joint exercise or enjoyment. If not otherwise authorized by law, any agency of the state government when acting jointly with any municipality may exercise and enjoy all of the powers, privileges, and authority conferred by this chapter upon a municipality.

(3) Any two or more public agencies may enter into agreements with each other for joint action pursuant to the provisions of 67-10-204 through 67-10-206. Concurrent action by ordinance, resolution, or otherwise of the governing bodies of the participating public agencies constitutes joint action. Each such agreement shall specify its duration; the proportionate interest which each public agency has 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 the provisions of 67-10-204 through 67-10-206. The agreement may also provide for amendments thereof and conditions and methods of termination of the agreement; the disposal of all or any of the property, facilities, and privileges jointly owned, prior to or upon said property, facilities, and privileges, or any part thereof, ceasing to be used for the purposes provided in this chapter or upon termination of the agreement; the distribution of the proceeds received upon any such disposal and of any funds or other property jointly owned and undisposed of; the assumption or payment of any indebtedness arising from the joint venture which remains unpaid upon the disposal of all assets or upon a termination of the agreement; and such other provisions as may be necessary or convenient.