Subject to the prior consent and approval of the State Board of Education, the school boards of all school districts involved shall be authorized to agree as to which of the school boards shall have the power to operate, manage, govern and control any joint school or school building, constructed, erected and equipped or which is to be operated jointly under the provisions of Section 37-7-403, or, in the alternative, such boards may agree that all of such boards, acting jointly, or a joint board established and constituted in such manner as shall be agreed upon, shall have the power to operate, manage, govern and control any such school or school building. The board so agreed upon and constituted shall have the full power and authority to govern, supervise, manage and control such joint school building in the same manner and to the same extent as though said school was a regular school of such school district. All pertinent provisions of the school laws of this state shall be fully applicable to joint schools established, constructed, erected and equipped or which are to be jointly operated under the provisions of Section 37-7-403, except that the eligible children of all school districts joining and cooperating in the establishment and/or operation of such joint school who are assigned to such school by the school board of the district in which they reside shall be eligible to and shall attend such school.
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