POWERS.

(a) An agency may not engage in any utility business other than the generation, transmission, and sale or exchange of electric energy to:

(1) a participating public entity; or

(2) a private entity that owns jointly with the agency an electric generating facility in this state.

(b) The agency may:

(1) perform any act necessary to the full exercise of the agency's powers;

(2) enter into a contract, lease, or agreement with or accept a grant or loan from a:

(A) department or agency of the United States;

(B) department, agency, or political subdivision of this state; or

(C) public or private person;

(3) sell, lease, convey, or otherwise dispose of any right, interest, or property the agency considers to be unnecessary for the efficient maintenance or operation of its electric facilities;

(4) use the uniform system of accounts prescribed for utilities and licenses by the Federal Energy Regulatory Commission; and

(5) adopt rules to govern the operation of the agency and its employees, facilities, and service.