There is hereby created a body corporate and politic to be known as the Bushy Park Authority, hereinafter sometimes referred to as the "Authority." It shall be the function of the Authority to cause the construction of the necessary reservoir or reservoirs to impound the fresh water flowing down the Cooper River, and to distribute such water, in the manner provided in this chapter, for industrial and domestic use within its service area. Such reservoir or reservoirs, their intakes, their impounding dams or dikes, the canals, conduits, aqueducts and tunnels connecting them with the Cooper River, all distribution facilities, including mains, conduits, and lines, all land, all rights of way, all easements, and all machinery, apparatus and equipment, acquired by the Authority for the construction, operation or maintenance of the project, whose undertaking is hereby authorized, shall be collectively referred to in this chapter as the "Project."