(a) For the purpose of carrying into effect the objects and purposes of this chapter, the board of commissioners shall have full power and authority to:
(1) Negotiate and enter into contracts with the federal government or any of its agencies, the State Highway Commission, or the state highway commission of any adjoining state where the bridge may be located;
(2) To contract with any counties, cities, or towns of the State of Arkansas and any adjoining state whereby the district may receive financial aid in the construction, maintenance, and operation of the bridge and approaches thereto;
(3) To contract for the joint ownership thereof and the means and manner of operating and maintaining the bridge and approaches thereto.
(b) The powers herein granted to the board of commissioners shall be broad and liberal powers to carry out the purposes of this chapter.