(1) Public school districts in the State of Arkansas are empowered to voluntarily agree to share programs, personnel, materials, and equipment for the purpose of enlarging curriculum or services or providing new services to students in their respective school districts.
(2) The educational cooperatives are empowered to receive state, local, and federal funds that have been assigned to the educational cooperatives by the member school districts and are also empowered to spend those funds on behalf of the school districts assigning those funds.
(3) The Division of Elementary and Secondary Education shall not distribute state equalization aid directly to any educational cooperative.