"Section 1. For the purpose of undertaking the development of water for hydroelectric power and the production of power from other sources and for other purposes specified in this Act, there is hereby created a public Corporation which shall be known as the 'National Power Corporation', and which shall exist until December thirty-one, twenty hundred. Unless its corporate life is extended anew, the corporation shall continue thereafter as a corporate body for such time as may be necessary for the purpose of liquidation. The words 'Corporation' and 'Board' appearing in this Act shall respectively refer to the National Power Corporation and the National Board, hereinafter created."