§ 15-1-423 — Municipal growth management agreements

(a) Following a public hearing which may be held jointly
between the affected cities or towns, any city or town may
mutually agree with one (1) or more cities or towns defining the
future geographical growth and expansion areas for each
respective city or town. Any agreement under this section shall
be reduced to writing and approved by the governing body of each
city or town which is a party to the agreement. No agreement
under this section shall be amended, terminated or voided by any
party thereto after its execution except by the mutual written
agreement of the parties to the agreement.
(b) Any agreement entered into by and between any cities
or towns under this section shall provide that the parties to
the agreement shall not annex real property located in any other
party's defined growth and expansion area unless the nonannexing
city or town's governing body consents, in writing, to any such
annexation.
(c) Any agreement entered into by and between any cities
or towns defining their respective future geographical growth
and expansion areas prior to July 1, 2007 is hereby ratified and
approved and may only be amended, terminated or voided by the
mutual written agreement of the governing bodies of the parties
thereto.
(d) Nothing in this section shall supercede other
requirements for annexation under this article.