5.1-2.18 - Joint agency or authority; agreements authorized; terms.
§ 5.1-2.18. Joint agency or authority; agreements authorized; terms.
The Board may, to the extent permitted by law, enter into agreements withagencies or authorities in this Commonwealth or from adjoining states or withan agency or authority of the United States for joint action pursuant to theprovisions of this chapter. Each such agreement shall specify its duration,the proportionate interest which each participating authority or agency shallhave in the property, facilities, and privileges of the joint undertaking;the apportionment of the costs of the undertaking among the participatingauthorities or agencies; the disposition of all property, facilities, andprivileges jointly owned upon termination of such agreement or any renewalthereof; the payment or assumption of any indebtedness arising out of suchjoint operation which remains unpaid upon the disposal of all assets or uponthe termination of the agreement or any renewal thereof; and such otherprovisions as may be necessary to insure efficient operation of the jointundertaking.
(1980, c. 750.)