Section 1-24-5 - Provisions for control agency and property 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 items enumerated in § 1-24-4, contain the following:
(1) Provision for an administrator or a joint board responsible for administering the joint or cooperative undertaking. In the case of a joint board public agencies party to the agreement shall be represented; and(2) The manner of acquiring, holding, and disposing of real and personal property used in the joint or cooperative undertaking.