Upon a resolution of approval to enter into such agreement by the directors of the corporation, and a favorable determination by the State Director of the Budget of the elements set forth in section 2002.4 of this Part, the appropriate representative of the municipality and the executive director of the corporation may execute the agreement. No services shall be rendered by the corporation until the agreement has been duly executed by the municipality and the corporation. The corporation shall file with the State Director of the Budget a copy of the executed agreement and all amendments thereto.