(1) Any two (2) or more school districts in this state are authorized to enter into compacts, as authorized by this subchapter, to share or provide educational facilities, resources, and opportunities, including without limitation alternative educational programs, secondary area vocational centers, and community-based education programs that the boards of directors of the compacting school districts determine may be better and more efficiently provided by such compact agreements rather than by each school district acting in its individual capacity.
(2) If all of the school districts that have entered into a compact are within the service area of the same education service cooperative, that education service cooperative is also authorized to enter into the compact.
(3) The members of the compact may jointly enter into lease agreements for the purpose of renting facilities.