Section 131. Emergency repairs

When, in the opinion of the corporation, an
  emergency exists endangering the canal system the corporation may  seize
  any  lands,  equipment,  materials  or  supplies necessary to avert such
  damage or to restore the banks or other property which may be threatened
  or have been damaged. It may subsequently return or otherwise dispose of
  such lands, equipment, materials or supplies so seized which may  be  no
  longer  required  in  such manner and upon such terms as in its judgment
  will be for the best interest of the state including the corporation. It
  may enter into an agreement with the owner or  owners  of  any  property
  seized for such emergency repairs under this section covering the amount
  of   damages   sustained.   Such   agreement,   when   approved  by  the
  attorney-general, shall become an obligation of the corporation and paid
  from moneys available therefor. In case no agreement is consummated, the
  amount of damages sustained may be determined as provided in section one
  hundred twenty of this chapter.