(1) In accordance with Title 11, Chapter 13, Interlocal Cooperation Act, at least two school districts may, for the purpose of coordinating public education transportation services:

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     (1)(a) create an interlocal entity as defined in Section 11-13-103 if the school districts establish an interlocal entity governing board as described in Subsection (2); or
     (1)(b) enter into a joint or cooperative undertaking as described in Section 11-13-207 if the school districts establish a joint board as described in Subsection (2).
(2) A governing board described in Subsection (1)(a) or a joint board described in Subsection (1)(b) shall consist of:

     (2)(a) at least one elected member of a local school board from each school district that creates the interlocal entity or enters into the joint or cooperative undertaking; and
     (2)(b) only elected members of the local school boards of the school districts that create the interlocal entity or enter into the joint or cooperative undertaking.