Section 35-B:7 - Cooperative Arrangements Between Political Subdivisions and Other AgenciesI. Any 2 or more towns, cities, counties, or other political subdivisions, may severally vote to establish cooperative arrangements for carrying out the purposes of this chapter. Appropriate action by ordinance, resolution or otherwise shall be necessary before any such agreement may take effect.II. Any such agreement shall specify the following: (b) The precise organization, composition and nature of any separate legal or administrative entity created thereby together with the powers delegated thereto;(c) Its purpose or purposes;(d) The manner of financing the joint or cooperative undertaking and of establishing and maintaining a budget therefor;(e) The permissible method or methods to be employed in accomplishing the partial or complete termination of the agreement and for disposing of property upon such partial or complete termination;(f) Any other necessary and proper provisions.III. In the event that the agreement does not establish a separate legal entity to conduct the joint or cooperative undertaking, the agreement shall, in addition to the above listed items, contain the following:(a) Provisions for an administrator or a joint board responsible for administering the joint or cooperative undertaking. Any public agencies which are a party to the agreement shall be represented on any joint board established.(b) The manner of acquiring, holding and disposing of real and personal property used in the joint or cooperative undertaking.IV. No agreement made pursuant to this section shall relieve any public agency of any obligation or responsibility imposed upon it by law except that to the extent of actual and timely performance thereof by a joint board or other legal or administrative entity created by an agreement made hereunder, said performance may be offered in satisfaction of the obligation or responsibility. Financing of joint projects by agreement shall be as provided by law.1979, 185:1, eff. Aug. 5, 1979.