282.12  Funding.
  1.  An agreement for whole grade sharing shall establish a method for determination of costs, if any, associated with the sharing agreement.
  2.  For one-way sharing, the sending district shall pay no less than one-half of the district cost per pupil of the sending district.
  3.  For two-way sharing, the costs shall be determined by mutual agreement of the boards.
  4.  The number of pupils participating in a whole grade sharing agreement shall be determined on the date specified in section 257.6, subsection 1, and on the third Friday of February of each year.
87 Acts, ch 224, §62; 2006 Acts, ch 1152, §40