Section 12.

People’s utility districts may be created of territory, contiguous or otherwise, within one or more counties, and may consist of an incorporated municipality, or municipalities, with or without unincorporated territory, for the purpose of supplying water for domestic and municipal purposes; for the development of water power and/or electric energy; and for the distribution, disposal and sale of water, water power and electric energy. Such districts shall be managed by boards of directors, consisting of five members, who shall be residents of such districts. Such districts shall have power:
(a) To call and hold elections within their respective districts.
(b) To levy taxes upon the taxable property of such districts.
(c) To issue, sell and assume evidences of indebtedness.
(d) To enter into contracts.
(e) To exercise the power of eminent domain.
(f) To acquire and hold real and other property necessary or incident to the business of such districts.
(g) To acquire, develop, and/or otherwise provide for a supply of water, water power and electric energy.
Such districts may sell, distribute and/or otherwise dispose of water, water power and electric energy within or without the territory of such districts.
The legislative assembly shall and the people may provide any legislation, that may be necessary, in addition to existing laws, to carry out the provisions of this section.