Lawrenceville-Vincennes Intl. Airport is operated by joint effort of Illinois and Indiana known as the Bi-State Authority.  It is locally controlled through the two cities of Lawrenceville, IL and Vincennes, IN.  After negotiations finished, it wasen't until June 14th, 1964 when the Bi-State Authority was created, which is also when the Lawrenceville Municipal Airport became the Lawrenceville-Vincennes Municipal Airport.
The board of the Bi-State Authoirty is comprised of 8 members, 1 appointed by the Governor of Illinois, 1 appointed by the Governor of Indiana, 3 appointed by the Mayor of Lawrenceville, Illinois, and 3 appointed by the Mayor of Vincennes, Indiana.  The current board members are Diana Ferrell, John Bobe, Richard Gardner, Garry Hall, Charles Gillespie, Allen Large, Greg Schmidtknecht, and David Whitson.
Lawrenceville-Vincennes Municipal Airport again changed its name on February 20th, 1980 to Mid-American Air Center, with a secondary name of Lawrenceville-Vincennes Intl. Airport (LWV).

Check out how the airport maintains itself HERE.