A water authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof:
(1)To have succession in its designated name;
(2)To sue and be sued and to prosecute and defend suits in any court having jurisdiction of the subject matter and of the parties;
(3)To make use of a seal and to alter it at pleasure;
(4)To adopt and alter bylaws for the regulation and conduct of its affairs and business;
(5)To acquire, whether by purchase, gift, lease, devise, or otherwise, property of every description that a board of directors may deem necessary to the acquisition, construction, equipment, improvement, enlargement, operation, administration, or maintenance of a project and to hold title thereto;
(6)To construct, enlarge, equip, improve,
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A water authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof: (1) To have succession in its designated name; (2) To sue and be sued and to prosecute and defend suits in any court having jurisdiction of the subject matter and of the parties; (3) To make use of a seal and to alter it at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, whether by purchase, gift, lease, devise, or otherwise, property of every description that a board of directors may deem necessary to the acquisition, construction, equipment, improvement, enlargement, operation, administration, or maintenance of a project and to hold title thereto; (6) To construct, enlarge, equip, improve, maintain, administer, and operate one (1) or more projects; (7) To borrow money for any of its purposes; (8) To sell and issue its interest-bearing bonds; (9) To sell and issue refunding bonds; (10) To secure any of its bonds by pledge and indenture as provided in this subchapter; (11) To appoint, employ, and compensate such general managers, executive directors, agents, architects, engineers, attorneys, accountants, and other persons and employees as the business of the water authority may require; (12) To provide for such insurance as the board may deem advisable; (13) To invest any of its funds that the board may determine are not presently needed for its operational purposes in obligations that are direct or guaranteed obligations of the United States or other securities in which public funds may be invested under the laws of this state; (14) To invest the proceeds of bonds or any debt service reserves or sinking funds securing the payment of the bonds in any obligations, securities, repurchase agreements, or investment agreements authorized or permitted by the resolution of the water authority authorizing the same or the indenture securing the same; (15) To contract, lease, and make lease agreements respecting its properties or any part thereof as lessor or lessee, including financing lease agreements; (16) To exercise the power of eminent domain in accordance with the procedures prescribed by § 18-15-301 et seq.; (17) To sell and convey, mortgage, pledge, or otherwise dispose of any of its: (A) Properties; (B) Assets; (C) Franchises; (D) Rights; (E) Privileges; (F) Licenses; (G) Rights-of-way; and (H) Easements; (18) To own and operate facilities necessary to provide potable water and associated services and to provide wastewater collection, disposal, and treatment to Arkansas residents; (19) To fix, regulate, and collect rates, fees, and rents or other charges for water and wastewater collection, disposal, and treatment and any other facilities, supplies, equipment, or services furnished by the water authority; (20) To do and perform all acts and things and have and exercise any power as may be convenient or appropriate to effectuate the purposes for which the water authority is formed; (21) To purchase, receive, or in any manner acquire, own, hold, and use any real and personal property or any interest on the property on the terms as determined by the board of the water authority to be in the best interest of the water authority; and (22) To enter into water contracts for the purchase or sale of water on a wholesale basis on the terms and conditions the board determines are in the best interest of the water authority.