(a) It is found and declared as a matter of legislative determination that the construction of flood control and drainage works by the United States of America, provided in any project which it has heretofore adopted and authorized or any project which it may hereafter adopt and authorize, and the perpetual operation and maintenance thereof as directed by the Secretary of the Army will be conducive to the public welfare and will result in great betterment and increase in value of lands, town lots, blocks, railroads and tramroads, telegraph and telephone lines and electric power lines, and all other real property situate within the boundaries of the district wherein the flood control and drainage works may be constructed by the United States of America.
(b) For the purpose of this subchapter, the amount of the increased value or betterment to such lands, town lots, blocks, railroads and tramroads, telegraph and telephone lines and electric power lines, and all other real property lying within the boundaries of the district, which is estimated to accrue to the property by reason of the construction of the flood control and drainage works provided for in any such adopted and authorized project, and the costs of perpetual operation and maintenance thereof, shall be ascertained and definitely determined and fixed in the manner provided in §§ 14-120-221 and 14-120-222.