Sec. 2. (a) A cooperative agreement under this chapter must provide at least for the following:
(1) Its duration.
(2) Its purpose.
(3) The manner of financing, staffing, and supplying any joint undertaking and of establishing and maintaining a budget for any joint undertaking that is the subject of the cooperative agreement.
(4) The methods that may be employed in accomplishing the partial or complete termination of the cooperative agreement and for disposing of property upon partial or complete termination of the cooperative agreement.
(5) The manner in which the cooperative agreement is to be administered.
(6) The manner of acquiring, holding, and disposing of real and personal property that is the subject of the cooperative agreement.
(b) A cooperative agreement may include any condition or term that is necessary or appropriate.