The Commission shall constitute a body, both corporate and politic, with full power and authority:
The Commission shall make, or cause to be made, such studies as it may deem necessary, in cooperation with the corps of engineers and other federal agencies, for the development of a comprehensive plan for flood control and for utilization of the water resources of the Connecticut River Valley.
The Commission shall not pledge the credit of the signatory states or any of them.
10 V.S.A. § 1154