Be it further enacted, that there is created a Board of Lake Commissioners, to consist of seven (7) members, which shall have, subject to the provisions of Section 2 of Article XXII vesting certain powers in the City Council and the general financial and budgetary provisions of Article XV, the general management and supervision of the lake property of the City of Crossville, known as "Meadow Park Lake", together with all adjacent land owned by the city, for recreational and all other purposes insofar as the same are not inconsistent with the use of the property as a water supply for the City of Crossville. The Board shall have the power to lease, let and rent any part or parts of the grounds for recreational purposes for any period of time not exceeding two (2) years; the power to grant or lease fishing privileges or rights in the lake; the power to provide, purchase and rent boats; the power to collect fees for rentals or leases; and to do any and all things in connection with the use of the lake and adjacent land that any natural person might do, subject, however, to the restriction that none of such properties can be leased or let for any illegal purposes, nor in such way or manner as to render the City of Crossville liable in damages to the lessees or to anyone operating by, through, or under such leases. Such leases or rentals shall at all times be subject to the proper use of the lake as a water supply for the city and shall in no way interfere with the use thereof for such purpose, nor shall this Act be construed in any way or manner to affect or impair the obligations of the city to the holders of its bonded indebtedness. (As amended by Priv. Acts of 1965, ch. 259, sec. 12 and Priv. Acts 2014, ch. 55, sec. 1)