67.790.  Lake authority — tax increment financing — approval, by whom. — 1.  The authority shall have the power to adopt tax increment financing within its boundaries in the same manner as provided for a municipality under sections 99.800 to 99.865.

  2.  If the authority desires to implement a tax increment financing project within the boundaries of a municipality partially or totally within the boundaries of the authority, the authority shall first obtain the permission of the governing body of the municipality.

  3.  Any tax increment financing project of the authority shall first be approved by the county commission of the county in which the proposed tax increment financing project lies.