(1) A governmental unit, for the purpose of aiding and cooperating in the financing, construction, operation, or maintenance of any public highway, has the power:
To sell, lease, loan, donate, grant, convey, assign, transfer, and otherwise dispose tothe authority any real or personal property or interests therein;
To enter into agreements with any person for the joint financing, construction, operation, or maintenance of any public highway. Upon compliance with applicable constitutional or charter limitations, such governmental unit may agree to make payments without limitation as to amount except as set forth in the agreement, from revenues from one or more fiscal years, to the authority or any person to defray the costs of the financing, construction, operation, or maintenance of a public highway.
To transfer or assign to the authority any contracts which may have been awarded bythe governmental unit for construction, operation, or maintenance of any public highway.
(2) To assist in the financing, construction, operation, or maintenance of a public highway, any county or municipality which is a member of a combination may, by contract, pledge to the authority all or a portion of the revenues it receives from the highway users tax fund. The authority shall apply revenues which it receives pursuant to such pledge to the financing, construction, operation, or maintenance of public highways.
Source: L. 87: Entire part added, p. 1853, § 1, effective August 27.