GENERAL CONTRACT POWERS.

(a) The district may enter into and enforce a contract or agreement necessary or convenient to the exercise of the powers, rights, privileges, and functions conferred on the district by this chapter or the general law, including a contract or agreement with any person as the board considers necessary or proper for, or in connection with, any power or function of the district for:

(1) the purchase or other acquisition, storage, transportation, distribution, delivery, or sale of water;

(2) the collection, transportation, processing, or disposal of waste; or

(3) the construction, acquisition, ownership, financing, operation, maintenance, sale, leasing to or from, or other use or disposition of any facilities authorized to be developed, acquired, or constructed under this chapter or the general law.

(b) The authority to enter into or enforce the contract or agreement includes the authority to enter into or enforce a contract or agreement regarding:

(1) any improvements, structures, facilities, equipment, and other property of any kind in connection with the subject of the contract or agreement;

(2) any related land, leaseholds, and easements; and

(3) any interests in the property.

(c) The contract or agreement:

(1) may not have a term of more than 40 years; and

(2) may contain provisions the board determines to be in the best interest of the district.

(d) The district may pledge all or part of its revenue to the payment of its obligations under the contract or agreement to the same extent and on the same conditions as it may pledge revenue to secure district bonds.