Municipalities are authorized to acquire by gift, devise, lease, purchase, or eminent domain real or personal property necessary to the installation and operation of a solid waste management system either individually or as a party to a regional or county solid waste authority. A contract for the purchase or lease of such property by a municipality may be for a term not to exceed twenty years. If contracted as a party to a regional or county solid waste authority, each member's share shall be fixed at the time of purchase with provisions for a division of proceeds upon termination of the region or the withdrawal from regional participation.
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