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.
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