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The authority is specifically authorized and empowered to do any and all things necessary in forming and executing a plan for the comprehensive development of the resources of Carroll County, including an action in cooperation, when necessary, with appropriate local, state, and federal agencies in the fields of agriculture, forestry, drainage and flood control, land reclamation, electric power utilization, irrigation, water conservation and supply, recreation, public health, manufacturing, and trade. To that end the authority:
Shall have succession in its corporate name;
May sue and be sued in its corporate name;
May adopt and use a corporate seal;
May establish, amend and repeal bylaws and make all rules and regulations deemed expedient for the management of its corporate affairs;
May make contracts and execute instruments containing such terms, provisions and conditions as in the judgment of the board of directors may be necessary, proper or advisable in the exercise of the powers conferred upon it in this section, including, but not limited to, contracts for grants, loans or other assistance from any federal agency and contracts with corporations, associations or individuals for construction work in the furtherance of any development project, and may carry out and perform the terms and conditions of all such contracts or instruments;
May acquire by purchase, lease, gift or by condemnation property of any kind, real, personal or mixed, or any interest therein, that the board deems necessary to the exercise of its powers or functions; provided, that acquisition by condemnation is limited to land, rights in land, including leaseholds and easements, and water rights in watersheds of rivers or streams in Carroll County that, if taken for channel improvement along an unimpounded portion of such rivers or streams, lie within the present floodplain of such rivers or streams and, if bordering an impoundment or detention reservoir, lie within two thousand six hundred fifty feet (2,650') of the nearest point on the maximum shoreline contour of such impoundment. The amount and character of interests in land, rights in land and water rights to be acquired within either of these boundaries shall be determined by the board of directors, which determination shall be final;
May:
Issue its bonds, including refunding bonds, from time to time in a total amount not to exceed twelve million dollars ($12,000,000) for the purpose of paying in whole or in part the cost of the acquisition of necessary land or interests in such land and the development of the resources of Carroll County, and expenses incidental to such development;
Issue refunding bonds which refinance or refund bonds used for any purpose described in subdivision (a)(7)(A);
Secure such bonds by a pledge of all or any part of the revenues that may come to the authority from any source, by a mortgage or deed of trust of the authority's land or any part of such land, or by a combination of the two (2); and
Make such contracts or covenants in the issuance of such bonds as may be necessary to ensure the marketability of the bonds;
May arrange with any city, county, municipality or supplier of utilities for the abandonment, relocation or other adjustment of roads, highways, bridges and utility lines;
May enter into contracts with municipalities, corporations, other public agencies, or political subdivisions of any kind, or with others for the sale of water from reservoirs in the rivers or streams of Carroll County under its control for municipal, domestic, agricultural or industrial use or any other services, facilities or commodities that the authority may be in a position to supply;
May develop reservoirs and shoreline lands for recreational use and provide for their operation or use for this purpose directly or by concessionaires, lessees or vendees of shoreline lands;
May sell or lease shoreline lands acquired in connection with development of the rivers or streams of Carroll County for uses consistent with the authority's development plans and subject to such restrictions as the authority deems necessary for reservoir protection and to such requirements as to:
Character of improvements and activities on the lands; and
Time within which such improvements or activities shall be undertaken as the authority deems appropriate to its overall development plans; and
May manage or operate reservoirs or shoreline lands of reservoirs owned by the United States under appropriate agreements with the federal agency or agencies having custody and control thereof.
It is recognized that parts of Carroll County are within the watersheds of the Obion and Forked Deer Rivers. Nothing in this section or this part should be construed as giving the Carroll County watershed authority power that conflicts with the power of the West Tennessee basin authority created by part 11 of this chapter. In the event of any disagreement between these two (2) agencies over activities in the Obion or Forked Deer River Basins, the determination of the West Tennessee River basin authority shall prevail.
The authority shall not exercise any broad governmental controls or police powers to regulate land use planning, zoning, subdivision regulations, building codes, or similar powers to regulate land use.