The Arkansas Natural Resources Commission shall have the authority to:
(1)
(A) Enter into negotiations with the duly authorized representatives of adjoining states relating to the protection and use of interstate waters occurring in underground aquifers, streams, lakes, reservoirs, or natural or artificial channels or impoundments and, with the consent of the United States Congress, enter into written compacts in relation thereto which shall become effective upon their ratification by the General Assembly and the legislative bodies of the other states which are parties thereto.
(B) In order that the commission may perform its functions more effectively, the Department of Agriculture shall employ a Water Resources Engineer, and the person so employed, at the time of his or her employment and during the continuance thereof, shall hold a certificate of registration granted by the State Board of Licensure for Professional Engineers and Professional Surveyors;
(2) Cooperate with similar agencies existing in other states, with the several federal departments, and with civic organizations interested in and devoted to water and soil conservation and flood control and prevention;
(3)
(A) Cooperate with local organizations, with districts organized under the Arkansas Irrigation, Drainage, and Watershed Improvement District Act of 1949, § 14-117-101 et seq., or other state law of similar import, and with appropriate federal departments and agencies in the development and prosecution of plans for the construction, operation, and maintenance of pools, lakes, reservoirs, dams, levees, ditches, canals, waterways, pumping works, and other facilities.
(B) This cooperation may be for work on improvements on lakes, rivers, bayous, and streams for the purpose of and to provide for irrigation, flood control, and drainage and additionally for preventing erosion, floodwater, and sediment damage and for the conservation, development, utilization, and disposal of water or in furtherance of any such purposes;
(4)
(A) Cooperate with counties, municipalities, and the respective instrumentalities thereof and other political subdivisions of the state and other local interests and with the United States Army Corps of Engineers, the United States Bureau of Reclamation, or other appropriate agency of the United States Government in the development and prosecution of plans for water supplies for domestic, municipal, industrial, and other purposes in connection with the construction, maintenance, and operation of federal navigation, flood control, irrigation, or multiple purpose projects whereof the project is of a character that storage or impoundment of water for present or anticipated future demand or need for the purposes stated in this subdivision (4)(A) may be included in any reservoir project in connection with any construction, operation, and maintenance.
(B)
(i) Whenever, after having made a detailed study, in conjunction with local interests, of the anticipated present and future demand or need for water for the purposes stated in subdivision (4)(A) of this section, the commission shall be of the opinion that the plans should provide for the impounding of water for current use or for both current and future use, it shall so advise the appropriate federal agency.
(ii) The commission shall also furnish the agency with a copy of its findings and determinations and the basis upon which the findings and determinations were made, including, but not limited to, estimates of quantities of water which will be required from time to time, the prospective users, and estimates of the amounts of revenues to be derived therefrom, together with additional or other information as shall be required to enable the federal agency to make a judgment as to the feasibility of including storage for the aforesaid purposes in any reservoir project.
(C)
(i) The commission shall obtain from the appropriate federal agency an estimate of the entire amounts of construction costs, including interest during construction, which would be allocated to water supply for current use only and for both current and future uses.
(ii) Whenever it shall make a determination, based upon the estimates and its own study, that the costs of the project for either or both uses may be amortized over the life of the project, but in no event to exceed fifty (50) years, it shall so advise the local interests in order that all local interests or any one (1) of them may be in a position to make a firm commitment to pay the cost of that part of the project, providing only for storage for current demand or need or to give reasonable assurances that demands for the use of such storage for both anticipated current and future demand or need will be made within a period of time which will permit the paying out of the costs within the life of the project.
(D)
(i) Whenever several entities of local interests are involved, the commission, acting in behalf of all of them on their request, may give the appropriate federal agency reasonable assurance, in writing, that the demands for the use of storage for anticipated future needs, as distinguished from anticipated current needs, will be made within a period of time which will permit the paying out of the costs within the life of the project.
(ii) Nothing in this subdivision (4)(D) shall be so construed as to commit the state government either to pay or guarantee the payment of such costs, and a statement to that effect shall be contained in any such writing.
(iii) The foregoing proviso shall not be so construed as to inhibit the right of the commission to pay any costs as related to anticipated future demand or need whenever it shall have been provided with funds for that purpose;
(5) Cooperate with the several federal agencies in the development of their plans for federal public works under the Public Works Acceleration Act, 42 U.S.C. §§ 2641–2643, or other federal law of similar import in such projects as small watershed, river and harbor, flood control, and soil conservation, and promote river navigation and hydroelectric power;
(6)
(A) Receive and expend any moneys arising from federal means, grants, contributions, gratuities, reimbursements, or loans payable or distributable to the State of Arkansas by the United States or any of its agencies or instrumentalities under any congressional act or rule or regulation of such an agency or instrumentality now or hereafter enacted or promulgated for or on account of any functions performable by the commission.
(B)
(i)
(a) The commission shall likewise receive any contributions, grants, or gratuities donated by private persons, associations, or corporations for or on account of any of the functions aforesaid.
(b) All moneys so received shall be deposited into the State Treasury unless provisions shall have otherwise been made by the respective federal agencies, private persons, associations, or corporations furnishing the funds.
(ii) However, if the General Assembly fails to appropriate any such moneys for the use of the Department of Agriculture to support the commission or in the event the specified use of any such moneys precludes their deposit into the State Treasury, the commission may convert any such moneys to the Arkansas Water Development Fund, to be used for the purposes for which granted, donated, or received or as otherwise provided by this subchapter;
(7) Contract and be contracted with;
(8) Take such other action, not inconsistent with law, as it shall deem necessary or desirable to carry out the purposes and intent of this subchapter; and
(9)
(A) Execute, issue, and deliver binding and irrevocable conditional or unconditional commitments in the form of letters or other written instruments to lenders of every sort located within or outside the State of Arkansas evidencing the commission's binding, enforceable, and irrevocable commitment and obligation to provide fully amortizing or other permanent financing for water, sewer, solid waste, flood control, drainage, water pollution control abatement and prevention, wetlands, irrigation, and any other projects that the commission may finance under the financial assistance programs that it from time to time administers.
(B) The commission may condition its obligation to provide fully amortizing or other permanent financing upon:
(i) The obtaining of construction, acquisition, or other financing for a qualifying project by a lender acceptable to the commission located within or outside of the State of Arkansas;
(ii) The completion of construction and operational certification of a qualifying project in accordance with commission requirements;
(iii) The acquisition of a project deemed acceptable to the commission;
(iv) The passage of a specified period of time;
(v) The issuance of commission bonds or the availability of other commission funds; or
(vi) Any other conditions of whatever nature that the commission may choose to include in the commitment letter.