(a) Each Sparta Aquifer critical groundwater county conservation board shall have the power to:
(1) Sue and be sued and complain and defend in the name of the board;
(2) Adopt a seal which may be altered at the board's pleasure and use it as the board determines;
(3) Acquire, construct, and develop any water facilities;
(4) Withdraw, store, transport, treat, and distribute water and engage in activities related or appropriate thereto;
(5) Acquire, own, lease, and operate any lands, buildings, fixtures, equipment, personalty, and other properties, real, personal, or mixed, tangible or intangible, as may be appropriate to its powers and the purposes of this subchapter;
(6)
(A) Sell and issue bonds secured by and payable from its revenues and enter into such trust indentures and other documents and undertakings as may be appropriate thereto. The bonds shall be payable over a period of not more than forty (40) years and shall bear interest at an interest rate or rates not to exceed that set forth in Arkansas Constitution, Amendment 65.
(B) The bonds shall be sold for such price and by such method as shall be determined by the board, and the bonds and interest thereon shall be exempt from all state, county, and municipal taxes;
(7) Apply the proceeds of revenue bonds and sales and use tax bonds issued by the county and municipalities within the county for the acquisition, construction, and development of water facilities, as may be agreed to by the county and such municipalities;
(8) Have and exercise the power of eminent domain for the purpose of acquiring lands, rights-of-way, and other properties necessary in the construction or operation of any water facilities in the manner now provided by the condemnation laws of this state for acquiring private property for public use;
(9) Accept gifts or grants of money, services, franchises, rights, privileges, licenses, rights-of-way, easements, or other property, real, personal, or mixed, tangible or intangible;
(10) Make any and all contracts necessary or convenient for the exercise of the powers granted in this subchapter, including, without limitation, contracts with other boards and with municipalities and counties;
(11) Fix, regulate, and collect rates, fees, rents, and other charges for water sold by the board and for the use of water facilities and for services furnished by the board, any such rates to be just, reasonable, and nondiscriminatory;
(12) Conduct its affairs within and without this state;
(13) Elect, appoint, or employ officers, agents, attorneys, engineers, and such other personnel as it shall deem necessary and to fix their compensation and to establish the use and application of the board's revenues;
(14) Enter upon private premises for the purpose of carrying out this subchapter, including a determination of the capacity of the Sparta Aquifer, and for compliance with the Department of Health rules concerning the health and safety of the water systems;
(15) Accept appropriations and grants from the State of Arkansas and from the United States upon such terms and conditions as may be imposed by law, rule, or regulation;
(16) Require that anyone drilling a water well into the Sparta Aquifer designated critical by the Arkansas Natural Resources Commission shall file a copy of the report required to be filed with the Commission on Water Well Construction pursuant to § 17-50-104 with the board;
(17) Require monitoring of all wells determined to be operated as registered water users or significant water users; and
(18) Exercise all powers necessary and appropriate to accomplish the improvement plan and such other powers as may be set forth in this subchapter or as may be necessary or appropriate to carry out its purposes and the purpose of this subchapter.
(b) Notwithstanding the powers conferred by this section, a board shall comply with the laws of this state regarding the acquisition, storage, transportation, distribution, treatment, or disposal of water.
(c) The board shall have the power, pursuant to appropriate agreement, to expend and invest the proceeds of bonds and other obligations, whether secured by revenues or taxes or otherwise, issued by the county or by any municipality in the county.