The cooperation and contract may be for any or all of the following purposes:
(a) Acquisition, extension, or operation of works for irrigation or drainage or flood control.
(b) A water supply.
(c) Assumption as principal or guarantor of indebtedness to the United States.
(d) To receive or borrow money from the United States and provide for the repayment thereof, for the purpose of constructing projects, distribution systems or other works for the district or for any distribution district or improvement district formed therein, which said works shall be used for the storage, regulation, control, development and distribution of water for the irrigation of land or for the use, control and distribution of drainage water within the district or for flood control purposes.