In addition to the powers hereinbefore granted, the board is hereby empowered and directed, for and in behalf of the Commonwealth and its subdivisions, to aid, assist, and co-operate in the carrying out of any Federal flood control program or plans, and for such purposes shall have all of the powers conferred and shall be subject to all the limitations imposed by this act, including the approval of plans as provided in this act, with respect to the State-created flood control districts and the execution of the official plans for such districts, and all other powers consistent therewith, necessary or required, in order to enable the Commonwealth to participate in and receive the benefits of any Federal flood control program or plans in this Commonwealth, subject to all the limitations imposed by this act. It shall have power among others, to enter into and execute any and all contracts and agreements with agencies of the Federal Government, and to do and perform all acts necessary in connection therewith, and to assist and coöperate in constructing, erecting, financing, maintaining, using, and operating any Federal public flood control works and improvements, and to enter into and execute such contracts as may be deemed necessary and convenient to the exercise of the powers, rights, privileges, and functions conferred by this act. It shall have power to obligate the Commonwealth to pay a portion of the cost of such Federal flood control works and improvements, not, however, exceeding amounts of money available for such purposes.

The board is authorized and directed to conform and comply with all rules, regulations, and requirements of the Federal Government and its agencies and instrumentalities, subject to the limitations imposed by this act.