If the construction or maintenance and operation of navigable canals or waterways and all navigational systems or facilities auxiliary to navigable canals or waterways on the Red River in this state is taken over or performed by the federal government or an agency of the federal government, then the authority may:
(1) enter into contracts that may be required by the federal government, including assignments and transfers of property, property rights, easements, and privileges; and
(2) take any other action required by the federal government or an agency of the federal government.