(1) Any county, city, or incorporated town in the State of Arkansas is empowered to execute with the United States, through any of its agencies, contracts for the acquisition of houses, housing facilities, housing projects, sewer and water plants and facilities which are necessary to the operation of the housing facilities, and other real, personal, or mixed properties which have been or may be declared surplus by the federal government.
(2) The contract may provide for outright purchase for cash or on terms or the lease of the properties from the federal government.