The boards of any two or more school districts may make and enter into agreements providing for cooperative operation and administration of an elementary guidance program on a shared-cost basis. The agreement entered into shall provide for a separate fund of the sponsoring school district, to which each contracting district shall pay the moneys due from it under the agreement. Any school district which is a party to such a cooperative agreement may be designated the sponsoring district under such agreement. Any such agreement shall be subject to change or termination by the legislature. Within the limitations provided by law, any such agreement may be changed or terminated by mutual agreement of the contracting school districts.