Sec. 37. (a) As used in this section:
(1) "service" means:
(A) imposing fees; and
(B) otherwise exercising powers;
to provide storm water management services; and
(2) "storm water board" refers to a board defined in IC 8-1.5-5-2.
(b) This section applies only if actions of:
(1) a board under section 36 of this chapter; and
(2) a storm water board under IC 8-1.5-5;
are pending at the same time to service the same area outside a municipality's corporate boundaries.
(c) The board and the storm water board must negotiate the adoption by the board and the storm water board of a memorandum of understanding that permits only the board or only the storm water board to service the area referred to in subsection (b). Neither the board nor the storm water board may service the area before a memorandum of understanding is adopted under this subsection. The entity designated to service the area in the memorandum of understanding may finalize the entity's action referred to in subsection (b). The entity not designated to service the area in the memorandum of understanding must terminate the entity's action referred to in subsection (b).