Sec. 26. (a) The commission may:
(1) acquire and dispose of real or personal property by grant, gift, purchase, lease, devise, or otherwise; and
(2) hold, use, improve, maintain, operate, own, manage, or lease as lessor or lessee real or personal property or any interest in that property;
for the purposes prescribed by this chapter.
(b) The commission may exercise the powers granted by this section for the development of the water resources of the basin.