(1) Two or more counties, two or more cities, any combination of them, or the State of Oregon in combination with one or more cities or counties or both, may by agreement entered into pursuant to ORS § 190.003 to 190.620, construct, acquire or equip, or may by such agreement operate, a regional correctional facility.

(2) An agreement pursuant to this section shall set forth at least:

(a) The party or combination of parties to the agreement that shall be responsible for the operation and administration of the facility;

(b) The amount of funding to be contributed by each party toward the construction or acquisition and equipping of the facility, or toward the operation of the facility, or toward both, as the case may be; and

(c) The number of beds to be reserved to the use of each party to the agreement. [1971 c.636 § 3; 1985 c.708 § 3]