(a) Municipalities desiring to avail themselves of the benefits of this subchapter and join together in the issuance of bonds as provided under the provisions of this subchapter, by proper ordinances, passed by all of the respective municipalities, may employ, under terms and for a compensation satisfactory to the respective municipalities, the same person, or persons, or corporation to manage and operate on behalf of all of the municipalities all of the several waterworks systems.
(b) The person or persons or corporation so employed jointly by the several municipalities may be vested with full and complete authority to manage, operate, employ, extend, and maintain the several waterworks systems and shall have full and complete charge of the waterworks systems including the right to employ or remove any and all assistants and employees of whatsoever nature, kind, or character and to fix, regulate, and pay their salaries, it being the intention of this section to vest in the person or persons or corporation unlimited authority to operate, manage, maintain, improve, and extend the waterworks systems and to have full and complete charge thereof.
(c) The person, or persons, or corporation shall not have authority or power to sell, mortgage, or encumber the waterworks systems, or any of them.