(a)

(1) Counties and municipalities are authorized and empowered to levy taxes and issue bonds for all joint or cooperative undertakings authorized by this part.

(2) Counties, municipalities and school districts are authorized and empowered to expend funds, acquire property through purchase, employ teachers, provide for the transportation of school children and do any and all other acts necessary or expedient for entering into and consummating all joint or cooperative undertakings authorized by this part.

(3) Existing school plants and facilities may be used or new plants may be acquired or constructed.

(4) Agreements for joint ownership or use of real and personal property are authorized.

(b)

(1) If agreements made pursuant to this part establish legal entities to conduct joint or cooperative undertakings, the commissioner of education may consider applications from and allocate funds to such legal entities, at the commissioner's discretion, pursuant to special grant programs administered by the department.

(2) However, nothing in subdivision (b)(1) shall be construed to authorize the distribution of Tennessee foundation program funds directly to such legal entities.

(3) Such legal entities are authorized to accept grants of funds from any public or private organization including the state and the federal government.

(c) Any public agency entering into an agreement under this part may appropriate funds and may sell, lease, give or otherwise supply the administrative joint board or other legal or administrative entity created to operate the joint or cooperative undertaking by providing the personnel or services therefor as may be within its legal power to furnish.

(d)

(1) Any public agency may contract with any other agency or agencies to perform any governmental service, activity or undertaking that each public agency entering into the contract is authorized by law to perform, if the contract is authorized by the governing body of each party to the contract.

(2) The contract shall set forth fully the purposes, powers, rights, objectives and responsibilities of the contracting parties.