The State Highway Commission and the counties and municipalities of the state are hereby authorized to enter into agreements for highway and street projects which are a part of an overall plan to be administered under the provisions of Title 23, United States Code. Such agreements may provide for traffic engineering assistance to the local governments for the development by the State Highway Department of records systems for local roads and streets. The counties and municipalities of the state are authorized to deposit with the State Highway Department the federal aid matching requirement for the project from any available fund. The county and/or municipal share and the federal share will be handled in the manner provided therefor in Section 65-9-17. The county will be required to fulfill its obligation for maintenance of any project constructed under this authorization in the same manner required of or for any state aid road. It shall be the duty of the municipal officials of any incorporated city entering into this agreement to properly maintain and operate any completed project or improvement on the municipal street system. It shall be the duty of the chief engineer of the State Highway Department and his assistants to make at least annual maintenance inspections of completed projects and such other periodic inspections as he shall deem necessary. If essential maintenance is not properly and regularly done in the opinion of the chief engineer, then notice shall be given by the director of the State Highway Department in writing to the county or municipality in fault; and, if such maintenance is not done and continued within sixty (60) days from the date of such notice, then the director of the State Highway Department may proceed to have done the necessary maintenance and repair work on such street and have the cost of same credited to the State Highway Fund from any fund available to the county or municipality within the state treasury.