A county board may enter into an agreement for the cooperative or joint administration of programs with one or more: County boards; Other educational institutions or agencies; and Boards of county commissioners or county councils. Agreements made under this section may include the cooperative or joint administration of programs that relate to: Personnel; Purchasing; Accounting; Data processing; Printing; Insurance; Building maintenance; and Transportation. If an agreement made under this section establishes a separate administrative entity to conduct or administer the joint or cooperative undertaking with power to employ persons, receive and spend money, or receive and spend federal or State grants and appropriations, the agreement shall specify the following: The duration of the agreement; The organization, composition, and nature of any separate administrative entity established; A statement of the powers of the entity and the manner of representation and participation of each cooperating board or agency in the program and that, if a joint board is established, each public agency party to the agreement shall be represented on it; The purpose of the administrative entity; The manner of financing the joint or cooperative undertaking and of establishing and maintaining its budget, including the manner for receiving, holding, and disbursing federal and other grants and appropriations, and the responsibilities of each cooperating unit of government involved for the payment of the share of the employer in any pension, retirement, or insurance plan administered by any of the participants; The manner of acquiring, holding, and disposing of property used in the joint or cooperative undertaking; The method to be used in accomplishing the partial or complete termination of the agreement and for disposing of property on partial or complete termination; and Any other necessary and proper matters. Before any agreement made under subsection (b) of this section becomes effective, it shall: Be approved by the county governing body; and Be submitted to the Attorney General. If the Attorney General finds that the agreement is not in proper form or not compatible with the laws of this State, the Attorney General shall give written details to the governing body of each public agency concerned as to how the proposed agreement fails to meet the requirements of law. A cooperative entity established under subsection (b) of this section may administer only the programs and exercise only the powers and duties specifically delegated to it by the public bodies party to the agreement. An agreement made under this section does not relieve any county board or other participant of any obligation or responsibility imposed on it by law, except that actual and timely performance by a joint board or other administrative entity established by an agreement under this section may be offered by the board in satisfaction of the obligation or responsibility.