Okla. Stat. tit. 74, § 74-1004

A. Any power or powers, privileges or authority exercised or

capable of exercise by a public agency of this state may be

exercised and enjoyed jointly with any other public agency of this

state, and jointly with any public agency of any other state or of

the United States to the extent that laws of such other state or of

the United States permit such joint exercise or enjoyment. Any

agency of the state government when acting jointly with any public

agency may exercise and enjoy all of the powers, privileges and

authority conferred by this act upon a public agency.

B. Any two or more public agencies may enter into agreements

with one another for joint or cooperative action pursuant to the

provisions of this act. If it becomes advisable and economically

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advantageous for any Oklahoma public agency administering federal

housing programs statewide within the State of Oklahoma to enter

into agreements with an agency of the United States or of another

state in order to benefit the State of Oklahoma through

administration of federal housing programs either within or outside

of the State of Oklahoma, such Oklahoma public agency may do so.

Appropriate action by ordinance, resolution or otherwise

pursuant to law of the governing bodies of the participating public

agencies shall be necessary before any such agreement may enter into

force.

C. Any such agreement shall specify the following:

1. Its duration;

2. The precise organization, composition and nature of any

separate legal or administrative entity created thereby together

with the powers delegated thereto, provided such entity may be

legally created;

3. Its purpose or purposes;

4. The manner of financing the joint or cooperative undertaking

and of establishing and maintaining a budget therefor;

5. The permissible method or methods to be employed in

accomplishing the partial or complete termination of the agreement

and for disposing of property upon such partial or complete

termination; and

6. Any other necessary and proper matters.

D. In the event that the agreement does not establish a

separate legal entity to conduct the joint or cooperative

undertaking, the agreement shall, in addition to paragraphs 1, 3, 4,

5 and 6 set forth in subsection C of this section, contain the

following:

1. Provisions for an administrator or a joint board responsible

for administering the joint or cooperative undertaking. In the case

of a joint board, public agencies party to the agreement shall be

represented; and

2. The manner of acquiring, holding and disposing of real and

personal property used in the joint or cooperative undertaking.

E. No agreement made pursuant to this act shall relieve any

public agency of any obligation or responsibility imposed upon it by

law except that, to the extent of actual and timely performance

thereof by a joint board or other legal or administrative entity

created by an agreement made hereunder, the performance may be

offered in satisfaction of the obligation or responsibility.

F. Every agreement made hereunder, except those agreements

authorized by Section 601 of Title 69 of the Oklahoma Statutes which

shall be approved by the district attorney, shall, prior to and as a

condition precedent to its entry into force, be submitted to the

Attorney General who shall determine whether the agreement is in

proper form and compatible with the laws of this state, including

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any agreements entered into pursuant to the provisions of the

Oklahoma Community Economic Development Pooled Finance Act. The

Attorney General shall approve any agreement submitted to the

Attorney General hereunder unless the Attorney General shall find

that it does not meet the conditions set forth herein and shall

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any agreements entered into pursuant to the provisions of the

Oklahoma Community Economic Development Pooled Finance Act. The

Attorney General shall approve any agreement submitted to the

Attorney General hereunder unless the Attorney General shall find

that it does not meet the conditions set forth herein and shall

detail in writing addressed to the governing bodies of the public

agencies concerned the specific respects in which the proposed

agreement fails to meet the requirements of law. Failure to

disapprove an agreement submitted hereunder within sixty (60) days

of its submission shall constitute approval thereof.

G. Financing of joint projects by agreements shall be as

provided by law, including any agreements entered into pursuant to

the provisions of the Oklahoma Community Economic Development Pooled

Finance Act.