(a) In addition to the powers, purposes, and authorities set forth elsewhere in this subchapter or in other laws, the Building Authority Division of the Department of Finance and Administration is authorized and empowered to:

(1) Acquire, construct, repair, renovate, alter, maintain, and equip existing or new buildings and capital improvements and the sites upon which they are situated for use by the Department of Correction for the housing, treatment, care, and rehabilitation of inmates committed to or in the custody of the Department of Correction;

(2) Acquire, construct, repair, renovate, alter, maintain, and equip existing or new buildings and capital improvements and the sites upon which they are situated for use by the Department of Correction for the prison agriculture and industry programs;

(3) Acquire, construct, repair, renovate, alter, maintain, and equip existing or new buildings and capital improvements and the sites upon which they are situated for use by state-supported institutions of higher education;

(4) Redeem or pay and discharge, or provide therefor, the outstanding 1977 Bonds and 1979 Bonds;

(5) Obtain the necessary funds for accomplishing its powers, purposes, and authorities from any source, including, without limitation, the proceeds of certificates of indebtedness issued under this subchapter; funds appropriated and made available under Chapter 2 of this title; and funds, if any, appropriated for the buildings defined in this subchapter;

(6) Purchase, lease or rent, and receive the bequests or donations of, or otherwise acquire, sell, trade, or barter any property either real, personal, or mixed, and convert such property into money or other property;

(7) Contract and be contracted with;

(8) Apply for, receive, accept, and use any moneys and property from the United States Government, any agency, any state or governmental body or political subdivision, any public or private corporation or organization of any nature, or any individual;

(9) Invest and reinvest any of the division's moneys in securities selected by the division; and

(10) Take such other action, not inconsistent with law, as may be necessary or desirable to carry out the powers, purposes, and authorities set forth in this subchapter and to carry out the intent of this subchapter.

(b) The powers, purposes, and authorities set forth in subsection (a) of this section shall be carried out in accordance with the duly promulgated policies of the division, under and pursuant to Chapter 2 of this title.