It is found and determined by the General Assembly that:
(1) The Sparta Aquifer is being depleted and damaged by salt water instrusion;
(2) The preservation and protection of the Sparta Aquifer can best be accomplished through an interstate compact;
(3) The Arkansas Natural Resources Commission is currently authorized to enter into interstate compacts to protect interstate waters occurring in streams, lakes, reservoirs, and natural or artificial channels or impoundments; and
(4) The commission's authority should be expanded to allow it to enter into interstate compacts for the protection of underground aquifers.