Sec. 12. The commission has jurisdiction over the public and private waters in Indiana and the adjacent land necessary for flood control purposes or for the prevention of flood damage. The commission shall do the following:
(1) Make a comprehensive study and investigation of all pertinent conditions of the areas in Indiana affected by floods.
(2) Determine the best method and manner of establishing flood control, giving consideration to the following:
(A) The reservoir method.
(B) The channel improvement method.
(C) The levee method.
(D) The flood plain regulation method.
(E) Any other practical method.
(3) Adopt and establish a comprehensive plan or master plan for flood control for all areas of Indiana subject to floods.
(4) Determine the best and most practical method and manner of establishing and constructing the necessary flood control works.
(5) Adopt appropriate measures for the prevention of flood damage.