(1) The authority is further authorized to: Cooperate with the Tennessee Valley authority in a study of engineering works as part of plans for comprehensive development of the Beech River watershed and in a study of the economic effects of such works in terms of agricultural production, industrial locations, trade, land values and county and state tax revenues;
(2) Ascertain the availability of, and obtain to the extent possible, commitments from local interests for financial contributions toward the cost of constructing, operating and maintaining such works;
(3) Negotiate with the Tennessee Valley authority regarding assistance by that agency in planning and financing the works;
(4) Report to the governor on plans that may be developed for constructing, operating and maintaining the projects, including recommendations for further legislation to put such plans into effect; and
(5) Cooperate with other groups authorized to investigate state participation in federal water projects.
(6) All agencies of the state are hereby authorized, empowered and directed to extend their cooperation and assistance to the authority in the formulation and implementation of its program of development.