(1) The board may contract with:
(a) a district for the sale of developed water;
(b) a qualified entity for the development or construction of the project; or
(c) a district or other qualified entity for the operation, maintenance, repair, or replacement of the project.
(2) By following the procedures and requirements of Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the board may make rules to:
(a) establish prices, in consultation with the committee and in accordance with Section 73-28-403, for:
(i) developed water sold to the districts; and
(ii) electricity made available by the project;
(b) establish procedures for reviewing offers to contract for the sale of developed water and electricity;
(c) establish the interest rate for repayment of preconstruction and construction costs;
(d) establish a reasonable time period for the districts to offer to purchase water; and
(e) administer and operate the project.
(3) The board may exercise eminent domain, as provided in Title 78B, Chapter 6, Part 5, Eminent Domain, to construct the project.