No airport, airport facility, airport hazard, or real or personal property, the cost of which is in excess of sums fixed therefor by the joint agreement or allotted in the annual budget, may be acquired, established, or developed by the joint board without the approval of the governing bodies of its constituent public agencies.

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Source: SL 1976, ch 303, § 28; SL 2018, ch 269, § 22.