A municipal stormwater authority created pursuant to § 22a-498 and located in a distressed municipality, as defined in subsection (b) of § 32-9p, having a population of not more than twenty-eight thousand shall constitute a body politic and corporate and the ordinance establishing such authority may confer upon such authority the following powers: (1) To sue and be sued; (2) to acquire, hold and convey any estate, real or personal; (3) to contract; (4) to borrow money, including by the issuance of bonds, provided the issuance of such bonds is approved by the legislative body of the municipality in which such authority district is located; (5) to recommend to the legislative body of such municipality the imposition of fees upon the interests in real property within such authority district, subject to the fifteen per cent limitation on, or alternative election to exempt, properties owned by hospitals described in subdivision (3) of subsection (c) of § 22a-498, the revenues from which shall be used in carrying out any of the powers of such authority; (6) to deposit and expend funds; and (7) to enter property to make surveys, soundings, borings and examinations to accomplish the purposes of § 22a-498. Such stormwater authority and legislative body shall comply with the procedures set forth in subsection (c) of § 22a-498, concerning the fifteen per cent limitation on fees imposed upon, and retrospective review and rebate procedures for fees generated from, properties owned by hospitals described in subdivision (3) of subsection (c) of said section except if such legislative body approves exemption of such properties from the fee until July 1, 2026.