(a) A coastal county may contract with a state agency, municipality, county, or other political subdivision of the state or any agency or instrumentality of the federal government to implement a qualified project under this subchapter. A contract under this section may:
(1) be for a period on which the parties agree;
(2) include terms on which the parties agree; and
(3) be payable from taxes, qualified payments, or any other source of revenue available for that purpose.
(b) A coastal county may enter into a contract, lease, or agreement with or make or accept grants and loans to or from:
(1) the United States;
(2) the State of Texas;
(3) a county, municipality, or other political subdivision of the state;
(4) a public or private corporation; or
(5) any other person.