The district shall hold title to its property in its corporate name for the uses and purposes of the district. The formation of a district shall not transfer water rights to the district. Any district which contracts with the State of Oklahoma or the United States may convey district property, with or without consideration, if such property is needed by the State of Oklahoma or the United States in connection with the construction, operation or maintenance of a project similar in purpose to that for which the district was organized.
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