(B) The board of trustees of a regional water and sewer district may convey, by mutual agreement, to a municipal corporation any completed water resource project acquired or constructed under this chapter for the use of, or service of property located in, the regional water and sewer district, or any part of that project to which any of the following applies: (1) The project is located within the municipal corporation or within any area that is incorporated as, or annexed to, the municipal corporation.(2) The project serves the municipal corporation or any area that is located within or that is incorporated as, or annexed to, the municipal corporation.(3) The project is connected to water supply or sanitary, drainage, prevention, or replacement facilities of the municipal corporation.The conveyance shall be completed with terms and for consideration as may be negotiated. Upon and after the conveyance, the municipal corporation shall manage, maintain, and operate the water resource project in accordance with the agreement. The board of trustees may retain the right to the joint use of all or part of any project so conveyed for the benefit of the district. Neither the validity of any assessment levied or to be levied, nor the legality or enforceability of any public obligations issued or incurred, to provide for the payment of the cost of the acquisition, construction, maintenance, or operation of the project or any part of the project shall be affected by the conveyance.