(1) The State Board of Education is authorized to contract with a school district and with the boards of other institutions under the control of a public board or commission for services to be provided for exceptional children as provided for in Title VI, Part B of Pub. L. No. 91-230 of 1965, as amended.
(2) School district boards of directors are authorized to contract for services for exceptional children residing in respective school districts or for services rendered in more than one (1) school district in a county if mutual agreements have been signed by the districts affected authorizing one (1) district to contract for two (2) or more school districts in a county.