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Creating the Greenbelt Municipal and Industrial Water Authority, by deleting the City of Memphis from the Authority and including within the boundaries of the Authority all territory annexed to the Cities of Childress, Clarendon, Crowell, Hedley and Quanah since their initial inclusion within the Authority; providing methods for the annexation of territory to the Authority; authorizing the Authority to acquire and operate retail water distribution systems and any and all property of any kind, real, personal or mixed, within or without the boundaries of the Authority; author zing the Authority to issue its bonds to mature within fifty years from their date to sell said bonds at a price and under terms determined by the Board of Directors to be the most advantageous reasonably obtainable; authorizing the Authority to employ and constitute its own law enforcement officers with power to make arrests when necessary; enacting other provisions relating to the subject; providing a severability clause.