(1) Any two or more local housing agencies may join or cooperate with one another in the exercise, either jointly or otherwise, of any or all of their powers for the purpose of financing, including the issuance of bonds, notes, or other obligations, and giving security therefor, or for planning, undertaking, owning, constructing, operating, or contracting with respect to a housing development or developments located within the area of operation of any one or more of the cooperating agencies. For such purpose an agency may, by resolution, authorize any other local housing agency or agencies so joining and cooperating with it to act on its behalf with respect to any or all of its powers as its agent or otherwise in the name of the agency or agencies so joining and cooperating or in its own name. Any such cooperation which involves fiscal matters, ownership of any real property, or the assumption of the functions of one local housing agency by another local housing agency shall be by written contract, agreement, or arrangement entered into by such cooperating agencies.
(2) Any local housing agency may, by resolution, authorize another local housing agency to exercise its powers within the authorizing agency's area of operation at the same time that the authorizing agency is exercising the same powers.
(3) Any local housing agency may by agreement sell, lease, or otherwise provide any other local housing agency with any goods, supplies, materials, services, equipment, or property upon such terms and for such compensation as the parties shall determine and the same may be purchased, leased, or otherwise acquired without advertisement, appraisal, or public bidding.
(4) Local housing agencies may form, join, and participate in associations, cooperatives, or other entities for the purpose of purchasing goods, supplies, materials, equipment, and services, including, but not limited to, insurance, at prices or rates that may not otherwise be available to individual local housing agencies, and all such purchases and sales may be done without advertisement, appraisal, or public bidding.