§ 21-17-410 — Borrowing or otherwise becoming obligated to defray cost of authorized projects

(a) Where any project is otherwise authorized by law and
where the board is otherwise authorized by law to issue its
securities to defray the cost of the project, the board may
borrow money or otherwise become obligated for the project and
may evidence any obligation by the issuance of the board's
securities.
(b) In connection with any project so authorized, the
board, except as otherwise provided, may:
(i) Have and alter a corporate seal;
(ii) Sue and be sued;
(iii) Acquire and hold property, rights or interests
therein and water rights;
(iv) Dispose of unnecessary or obsolete property, or
rights or interests therein;
(v) Make contracts and execute all instruments
necessary or convenient, as determined by the board;
(vi) Acquire by contracts or by its own agents and
employees, or otherwise acquire any properties as any project
authorized and operate and maintain the properties; and
(vii) Accept grants of money or materials or property
of any kind from the federal government, the state, any agency
or political subdivision thereof, or any person, upon such terms
and conditions as the federal government, state, agency or
political subdivision, or person may impose.