Notwithstanding anything to the contrary in this chapter or in Title 30, Chapter 1, the Arizona power authority may participate in the Montezuma pumped storage power project, the Hoover power plant modifications project or Hoover power plant uprating project as a joint owner with other publicly-owned or privately-owned utilities. In such event, the authority’s undivided interest or share of such project shall be deemed to be the power project included in the state water and power plan for the purposes of this chapter, provided that the authority may contract with other joint owners or the United States or any United States agency to act as agent for the acquisition, construction and operation of the entire project and for this purpose the authority shall have all powers with respect thereto necessary to carry out its obligations under such contract, including, without limitation, the powers set forth in section 45-1706.