(a) To exercise a right or perform a duty under this chapter, the authority may acquire:
(1) works, machinery, plants, or other facilities; and
(2) land, rights-of-way, or easements.
(b) Subject to the terms of a deed of trust or indenture executed by the authority, the authority may sell, trade, lease, rent, or otherwise dispose of any property the board considers not needed for authority purposes.