(1) Upon the adoption of a resolution establishing a special local improvement assessment district as set forth under Section 21-33-553, the homeowners’ association representing the property area in the district shall be authorized to exercise the following powers within the special local improvement assessment district:

(a) To provide for the planning and design of local improvements and the coordination of landscape design on different parcels of property, including the preparation of working drawings for the construction, acquisition and installation of local improvements;

(b) To purchase, acquire, install and construct local improvements;

(c) To purchase and acquire easements, air rights, scenic rights-of-way and other interests in land on which local improvements can be placed and which are necessary or desirable in connection with any local improvements;

(d) To provide for the management of local improvements, including, but not limited to, providing maintenance and services within the district; and

(e) To contract with a nonprofit local association duly incorporated under the laws of the State of Mississippi to undertake all or a portion of the activities within the district.

(2) A special local improvement assessment district established under Section 21-33-553 shall be dissolved upon completion of all improvements in the district’s strategic plan and satisfaction of all indebtedness incurred in connection with the district’s activities. However, the district may be continued in effect by following the petition and ballot procedures provided for the establishment of the district in Section 21-33-553.