After the creation of the authority, any other municipality may become a member thereof upon application to such authority after the adoption of a resolution by the utility commission of the municipality setting forth the determination and finding prescribed in Section 77-6-7, and the adoption by the governing authorities of the municipality of a resolution or ordinance ratifying the determination of the utility commission and authorizing said municipality to participate, and with the majority consent of the members of the authority evidenced by the resolutions of their respective utility commissions. Any municipality may withdraw from the authority, provided that all contractual rights acquired and obligations incurred while a municipality was a member shall remain in full force and effect. The withdrawing municipality shall continue to honor its obligations entered into while a member of the authority.
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