(a) Where there is organized in a county a county soil conservation association, whose membership shall comprise bona fide landowners incorporated under the Cooperative Marketing Law, compiled in chapter 16 of this title; and when the members of the association have agreed with the association by written contract to pay their proportionate share of the cost of producing a minimum of two thousand (2,000) tons of pulverized lime; and when the authorized officers of the association have petitioned the county legislative body with proper evidence that bona fide landowners in the county desire to use a minimum of two thousand (2,000) tons of pulverized lime and will pay their proportionate share of the cost of production, the county legislative body is authorized, within its own discretion, to make an appropriation for the purchase and to purchase equipment for the pulverizing of lime to be used on farm lands in the county and on farms of members of the association. The county legislative body is further authorized, within its own discretion, to make appropriation for the leasing or purchasing of quarries or limestone deposits for the manufacture of pulverized lime.

(b) In the event the lime pulverizing equipment is purchased and quarries or limestone deposits are leased or purchased, the county legislative body is authorized in its discretion to:

(1) Pulverize, manufacture and produce lime for sale to the farmers of the county on such terms and conditions as the county should deem proper; and

(2) Lease or sell the lime pulverizing equipment and/or quarries to the association on such terms and conditions as the county legislative body deems proper.