Section 77-5-141 - Powers of the district boardThe board of directors of any district shall have power and authority:
(a) To exercise by vote, ordinance or resolution all of the general powers of the district.(b) To make all needful rules, regulations and by-laws for the management and the conduct of the affairs of the district and of the board.(c) To adopt a seal for the district, prescribe the style thereof, and alter the same at pleasure.(d) To lease, purchase, sell, convey and mortgage the property of the district and to execute all instruments, contracts, mortgages, deeds or bonds on behalf of the district in such manner as the board shall direct.(e) To appoint and fix the salaries and duties of such experts and attorneys as it deems necessary, to hold office during the pleasure of the board and upon such terms and conditions as the board may require.(f) To make any and all contracts necessary or convenient for the full exercise of the powers in this article granted, including, but not limited to, contracts with any municipality, the United States of America, the President of the United States of America, Tennessee Valley Authority, the Federal Emergency Administrator of Public Works and any and all other authorities, agencies, and instrumentalities of the United States of America, for the purchase or sale of electric energy, and for the acquisition of all or any part of any utility or utilities. In connection with any such contract, the board may stipulate and agree to such covenants, terms and conditions as the board may deem appropriate including, but without limitation, covenants, terms and conditions with respect to the resale rates, financial and accounting methods, services, operation and maintenance practices, and the manner of disposing of the revenues of the utility operated and maintained by the district.(g) To do all things necessary or convenient to carry out its functions.Codes, 1942, § 5452; Laws, 1936, ch. 187.