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.
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