Powers concerning real or personal property; development of water resources

Sec. 7. (a) A watershed development commission may: (1) acquire and dispose of real or personal property by grant, gift, purchase, lease, devise, or otherwise; (2) hold, use, improve, maintain, operate, own, manage, or lease as lessor or lessee real or personal property or any interest in that property; (3) acquire by grant, gift, purchase, or devise an improvement within a five hundred (500) year flood plain, also known as a two-tenths of one percent (0.2%) annual chance of occurrence flood plain, in the commission's designated watershed for the purpose of removal of those improvements; and (4) adopt rules under IC 4-22-2 that restrict construction within a one hundred (100) year flood plain, also known as a one percent (1%) annual chance of occurrence flood plain, in the commission's designated watershed; for the purposes set forth in this chapter. (b) A watershed development commission may exercise the powers granted by this section as follows: (1) For the development of the water resources of the commission's designated watershed. (2) For the purposes of IC 32-23-5. (3) To contribute to the following: (A) Flood control or mitigation. (B) Flood damage reduction. (C) Water quality. (D) Soil conservation.