A county may contract with the United States of America, or any federal agency , for the construction of any flood control project within the county designed to:
(1) abate or control flood waters or any excessive or unusual accumulation of water in any natural or artificial basin, stream, or body of water; or
(2) for the protection of life and property against the danger, menace, injury, or damage resulting from any natural or artificial basin, stream, or body of water.