(a)   Council, in order to obtain police protection or to obtain additional police protection, may enter into contracts with one or more municipal corporations, townships, township police districts or county sheriffs in the State, with one or more park districts created pursuant to Ohio R.C. 511.18 or 1545.01, or with a contiguous municipal corporation in an adjoining state, upon any terms that are agreed upon, for services of police departments or the use of police equipment or for the interchange of services of police departments or police equipment within the several territories of the contracting subdivisions.
   (b)   Ohio R.C. Chapter 2744, insofar as it applies to the operation of police departments, shall apply to the contracting political subdivisions and to the police department members when they are rendering service outside their own subdivisions pursuant to the contracts.
   (c)   Police department members acting outside the subdivision in which they are employed, pursuant to a contract entered into under this section, shall be entitled to participate in any indemnity fund established by their employer to the same extent as while acting within the employing subdivision.  Those members shall be entitled to all the rights and benefits of Ohio R.C. Chapter 4123, to the same extent as while performing service within the subdivision.
   (d)   The contracts may provide for:
      (1)   A fixed annual charge to be paid at the times agreed upon and stipulated in the contract.
      (2)   Compensation based upon:
         A.   A stipulated price for each call or emergency;
         B.   The number of members or pieces of equipment employed; or
         C.   The elapsed time of service required in each call or emergency;
      (3)   Compensation for loss or damage to equipment while engaged in rendering police services outside the limits of the subdivision owning and furnishing the equipment; and
      (4)   Reimbursements of the subdivision in which the police department members are employed for any indemnity award or premium contribution assessed against the employing subdivision for workers’ compensation benefits for injuries or death of its police department members occurring while engaged in rendering police services pursuant to the contract.
         (ORC 737.04)