(1) There is conferred upon a water authority the authority to take action and to do or cause to be done the things that shall be necessary or desirable to accomplish and implement the purposes and intent of this chapter according to the import of this chapter.
(2) It is specifically understood that, except for the provisions of this chapter or the provisions of any other chapter which authorizes the conversion of a qualified corporation to a water authority, no other statutes shall govern or pertain to the creation of a water authority under this chapter or the issuance of bonds by a water authority.
(3) A water authority authorized by this chapter shall have the right to perpetual succession as a public body politic and governmental entity.
(4) The Arkansas Natural Resources Commission shall have the authority, including the powers set forth in § 15-20-206, to promulgate rules for carrying out the intent of this chapter.