7-7-4404. Authority to acquire, construct, maintain, and operate various undertakings. A municipality under this part may:

(1) construct, reconstruct, improve, or extend any undertaking, within or outside of the municipality or partially within or partially outside of the municipality, and acquire by gift, purchase, or the exercise of the right of eminent domain pursuant to Title 70, chapter 30, any undertaking and land or rights in land or water rights in connection with the undertaking;

(2) operate and maintain any undertaking and furnish the service, facilities, and commodities of the undertaking for its own use and for the use of public and private consumers within or outside of the territorial boundaries of the municipality; and

(3) prescribe and collect rates, fees, and charges for the services, facilities, and commodities furnished by the undertaking.