The share of each participating municipality of the cost of providing common drainage facilities shall be fixed by the contract. In the event that the acquisition and development of common drainage facilities shall be effected by the individual action of one of the participating municipalities, it shall be lawful for any of the other participating municipalities to make a lump sum payment of its share from moneys on hand and available for such purpose. Nothing herein contained shall prevent the purchase or condemnation of existing drainage facilities or portions thereof necessary for the purposes of the joint project, provided, however, that there shall be no power to condemn property the legal title to which is vested in a public corporation, district corporation or a special improvement district unless the owner shall consent thereto. In the event that any drainage facility owned by one of the participating municipalities is acquired for the purpose of the common facilities, such municipality may be allowed a credit against its share of the cost equal to the agreed value of the assets so acquired. The share of each participating municipality may be paid from taxes levied for the fiscal year in which such expenditure is to be made or may be financed as provided in title one-A of article two of the local finance law.