An independent city planning unit or members of a joint planning unit composed only of two (2) or more cities may exercise extraterritorial jurisdiction for the purposes of subdivision regulations and other regulations up to five (5) miles from all points upon the city's boundary, with the consent of the fiscal court, but not beyond the county boundary, nor within the boundary of any city not in the planning unit, provided, however, that where the extraterritorial jurisdiction of planning units overlap, the boundary shall be midway between them. The jurisdiction of joint city -county and regional planning units shall be coterminous with their political boundaries. Nothing herein shall prevent any planning unit from making planning studies of areas located outside its jurisdiction.
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