§ 160A‑464.  Provisions of the agreement.
Any contract or agreement establishing an undertaking shall specify:
(1)	The purpose or purposes of the contract or agreement;
(2)	The duration of the agreement;
(3)	If a joint agency is established, its composition, organization, and nature, together with the powers conferred on it;
(4)	The manner of appointing the personnel necessary to the execution of the undertaking;
(5)	The method of financing the undertaking, including the apportionment of costs and revenues;
(6)	The formula for ownership of real property involved in the undertaking, and procedures for the disposition of such property when the contract or agreement expires or is terminated;
(7)	Methods for amending the contract or agreement;
(8)	Methods for terminating the contract or agreement;
(9)	Any other necessary or proper matter. (1971, c. 698, s. 1.)