§ 119-o. Performance of municipal cooperative activities; alternative\npowers; alternative assignment of responsibilities. 1. In addition to\nany other general or special powers vested in municipal corporations and\ndistricts for the performance of their respective functions, powers or\nduties on an individual, cooperative, joint or contract basis, municipal\ncorporations and districts shall have power to enter into, amend, cancel\nand terminate agreements for the performance among themselves or one for\nthe other of their respective functions, powers and duties on a\ncooperative or contract basis or for the provision of a joint service or\na joint water, sewage or drainage project. Notwithstanding the foregoing\ngrant of authority, the temporary investment of moneys by more than one\nmunicipal corporation or district pursuant to a municipal cooperation\nagreement which meets the definition of "cooperative investment\nagreement" as set forth in article three-A of this chapter shall be in\ncompliance with all of the requirements of that article. Any agreement\nentered into hereunder shall be approved by each participating municipal\ncorporation or district by a majority vote of the voting strength of its\ngoverning body. Where the authority of any municipal corporation or\ndistrict to perform by itself any function, power and duty or to provide\nby itself any facility, service, activity, project or undertaking or the\nfinancing thereof is, by any other general or special law, subject to a\npublic hearing, a mandatory or permissive referendum, consents of\ngovernmental agencies, or other requirements applicable to the making of\ncontracts, then its right to participate in an agreement hereunder shall\nbe similarly conditioned. Municipal corporations and districts shall\nalso have the power to enter into, amend, cancel and terminate\nagreements with a soil and water conservation district established under\nthe soil and water conservation districts law for the performance among\nthemselves or one for the other of their respective functions, powers\nand duties on a cooperative or contract basis or for the provision of a\njoint service or a joint project; provided, however, that the exercise\nof any powers and duties under this article by a soil and water\nconservation district shall be subject to the powers, duties and\nlimitations in section nine of the soil and water conservation districts\nlaw.\n 2. An agreement may contain provisions relating to:\n a. A method or formula for equitably providing for and allocating\nrevenues and for equitably allocating and financing the capital and\noperating costs, including payments to reserve funds authorized by law\nand payments of principal and interest on obligations. Such method or\nformula shall be established by the participating corporations or\ndistricts on a ratio of full valuations of real property, or on the\nbasis of the amount of services rendered or to be rendered, or benefits\nreceived or conferred or to be received or conferred, or on the increase\nin taxable assessed value attributable to the function, facility,\nservice, activity or project which is the subject of an agreement, or on\nany other equitable basis, including the levying of taxes or assessments\nto pay such costs on the entire area of the corporation or district, or\non a part thereof, which is benefited or which receives the service.\n b. The manner of employing, engaging, compensating, transferring or\ndischarging necessary personnel, subject, however, to the provisions of\nthe civil service law where applicable; the making of employer's\ncontributions for retirement, social security, health insurance,\nworkers' compensation, volunteer firefighter and volunteer ambulance\nworker benefits, including participation in a public group self-insurer,\nand other similar benefits; the approval of attendances at conventions,\nconferences and schools for public officials and the approval and\npayment of travel and othe
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