The water authority shall have the following powers, acting either individually or jointly with other water authorities or public entities, together with all powers incidental thereto or necessary to the discharge thereof:
To have succession in its designated name;
To sue and be sued and to prosecute and defend suits in any court having jurisdiction of the subject matter and of the parties;
To make use of a seal and to alter it at pleasure;
To adopt and alter bylaws for the regulations and conduct of its affairs and business;
To acquire, whether by purchase, gift, lease, devise, or otherwise, property of every description which the board may deem necessary to the acquisition, construction, equipment, improvement, enlargement, operation, administration or maintenance of a project, and to hold title thereto;
To construct, enlarge, equip, improve, maintain, consolidate, administer and operate one or more projects;
To borrow money, including interim construction financing, for any of its purposes;
To sell and issue its bonds;
To sell and issue refunding bonds;
To secure any of its bonds by pledge and indenture as provided in this chapter;
To appoint, employ and compensate such general managers, executive directors, agents, architects, engineers, attorneys, accountants and other persons and employees as the business of the water authority may require;
To provide for such insurance as the board may deem advisable;
To invest in obligations that are direct or guaranteed obligations of the United States of America, or other securities in which public funds may be invested by any other political subdivision under the laws of this state, any of its funds that the board may determine are not presently needed for its operational purposes;
To contract, lease and make lease agreements respecting its properties or any part thereof;
To exercise the power of eminent domain in accordance with the procedures prescribed by Title 11, Chapter 27, Mississippi Code of 1972;
To sell, convey or otherwise dispose of any of its properties or projects; and
To exercise and hold the authority and power granted to water supply systems and sewer systems under Sections 19-5-173, 19-5-175, 19-5-177 and 19-5-203.