The legislature finds that:
(1) the creation of the infrastructure fund and the administration of the fund by the board will encourage the development of nonstructural and structural flood mitigation in the state;
(2) the use of the infrastructure fund is in furtherance of the public purpose of mitigating the effects of flooding in the state; and
(3) the use of the infrastructure fund for the purposes provided by this subchapter is for the benefit of both the state and the political subdivisions to which the board makes financial assistance available in accordance with this subchapter and constitutes a program under §§ 49-d-3 and 52-a, Article III, Texas Constitution.