1. Subject to the provisions of subsection 2 and with the approval of the Director of the State Department of Conservation and Natural Resources, the State Engineer, for and on behalf of the State of Nevada, is authorized to enter into agreements with the United States Geological Survey, the United States Soil Conservation Service, and any state agency, subdivision or institution having jurisdiction in such matters, for cooperation in making stream measurements, underground water studies, snow surveys, or any investigations related to the development and use of the water resources of Nevada.
2. The expenses of such investigations and surveys shall be divided between the parties upon an equitable basis.