(a) With the advance approval of the governor, a commission that borders another state may:
(1) join with a similar commission or planning agency in a contiguous area of the bordering state to form an interstate commission; or
(2) permit a similar commission or planning agency in a contiguous area of the bordering state to participate in planning functions.
(b) Funds provided a commission may be commingled with funds provided by the government of the bordering state.