The district may exercise the powers given to:(1) a corporation under Chapter 505, Local Government Code, including the power to own, operate, acquire, construct, lease, improve, and maintain projects described by that chapter;(2) a housing finance corporation under Chapter 394, Local Government Code, to provide housing or residential development projects in the district;(3) a municipality under Chapter 380, Local Government Code;(4) an entity described in Chapters 284 and 441, Transportation Code; and(5) a district governed by Subchapters E and M, Chapter 60, Water Code, and Section 61.116, Water Code. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.03, eff. April 1, 2007.Amended by: Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.52, eff. April 1, 2009.