(a) The contracts entered into between the local school districts maintaining the career and technical education center shall provide the method of administering the school.

(b)

(1) The administration of the school may be placed under the county or city board of education in which the school is located.

(2) In the alternative, the administration of the school may be placed under a board of control consisting of representatives from each of the local school districts participating in the program.

(c)

(1) The board of education of each local school district participating in the administration of the school may name one (1) or more persons to the board of control or may provide for a board of three (3), five (5) or seven (7) members, representing the various local school districts in such proportion as may be agreed upon in the contract.

(2) The board of control shall elect its own chair and secretary or may designate as ex officio secretary the director of schools of the county or city in which the school is located.

(3) The board of control for the career and technical education center shall exercise all the power and functions with respect to the career and technical education center that the county boards of education are authorized to perform with respect to the operation of county schools, except that it may not recommend tax levies or budgets for the support of an area school to the county legislative bodies of participating counties, but shall make the recommendations to the local boards of education of the participating counties, which will in turn include those amounts as items in the local school budget.

(d)

(1) All the funds contributed by each local school district participating in the operation and maintenance of the school shall be deposited in a special fund by the county trustee of the county, or city treasurer of the city, in which the school is located.

(2) If the administration of the school is left under the local school board, the warrants for the expenditure of funds shall be drawn in the same manner as other school funds are expended in the county or city.

(3) If the operation of the school is placed under a board of control, as provided in subdivision (b)(2), warrants shall be signed by the chair and secretary of the board of control.