TCA § 49-3-1104 — General powers of board

The board has the power and is authorized to: Acquire by purchase, gift or the exercise of the right to eminent domain and hold real or personal property or rights or interests in real or personal property and water rights; Make contracts and execute all instruments necessary or convenient to effectuate the purposes of this part; Acquire by contract or contracts or by its own agents and employees, or otherwise than by contract, any project or projects, and operate and maintain the projects; Accept grants of money or materials or property of any kind from a federal agency, upon such terms and conditions as such federal agency may impose; With prior approval of the state school bond authority, borrow money and issue bonds and provide for the payment of the bonds and for the rights of the holders of the bonds as provided in this part; and Perform all acts and do all things necessary or convenient to carry out the powers granted in this part, obtain loans, with prior approval of the state school bond authority, or grants or both from any federal agency, and accomplish the purposes of this part and secure the benefits of the recovery act.