(a) This section shall apply only to Lee County.
(b) On or after May 3, 2004, any municipality within Lee County may contract for police services within the corporate limits of the municipality with the sheriff of the county.
(c) A municipality entering into a contract with the sheriff for police services shall pay to the county treasury a sum sufficient to provide the necessary manpower and equipment as deemed necessary by both the municipal governing body and the sheriff of the county.
(d) The county governing body may receive from the municipality within the county money earmarked for police services and expend the monies only for police services in the corporate limits of the contracting municipality.
(e) Each contract between the county governing body and the contracting municipality shall be with the consent and approval of the sheriff.