(a) A master district may be created to conduct preliminary surveys and to develop a plan for the control and use of the water of any given stream, so that the improvements on one part of a watershed will be mechanically and economically related to all other improvements on the stream or its watershed.
(b) A master district also may be created to enable districts to pool their resources when necessary to economically:
(1) make preliminary surveys;
(2) adopt a plan to coordinate the plants, improvements, and facilities of the several constituent districts;
(3) provide the improvements and facilities proposed to be constructed and furnished by the master district;
(4) provide improvements for the common benefit of the several districts;
(5) enable the districts jointly to make purchases; or
(6) maintain or operate works for the common benefit of the several districts.