May a county and a municipality jointly finance a project within a project development district?

Yes. A county may enter into an interlocal agreement with a municipality located within the county to jointly finance a project within a project development district located within the municipality. Either unit may issue the project development bonds. The unit that does not issue the project development bonds may pledge all or any part of the taxes received or to be received by the non-issuing unit on the incremental valuation accruing to the project development district to the repayment of the bonds issued by the other unit, pursuant to the terms of the interlocal agreement.