The board shall have power, for and in behalf of the institution, to:
- 1. Acquire any project or projects and own, operate and maintain the same.
- 2. Accept grants or loans of monies from a federal agency.
- 3. Borrow monies and issue bonds and provide for the payment of the same and for the rights of the holders thereof.
- 4. Perform all acts and do all things necessary or convenient to carry out the powers granted by this article.