The board of education of any school district in this state which is contiguous to any other school district located in an adjacent state is hereby authorized to enter into contracts with the board of education of the school district located in the adjacent state for the purpose of providing better educational opportunities for students residing in both school districts. Such contracts may provide for: 1. The transfer of students between the two school districts; 2. The payment and acceptance of transfer fees for students transferred between the two school districts, the amount of which will be agreed upon by the boards of education thereof; 3. The use of district-owned school buses to transport students to and from the schools operated in the school districts; and 4. Such other cooperative agreements as will be necessary to provide quality education for all students residing or attending schools in the school districts.
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