Before a water assurance district is organized, and upon the request of the Kansas water office, the chief engineer shall determine the eligible water rights of the proposed district. In determining whether a water right may benefit, the chief engineer shall consider the following factors:

(a) The annual quantity and rate of diversion authorized by the water right and the frequency and the distribution of such use with time;

(b) the consumptive use, location and source of the water right; and

(c) such other factors as may be necessary to fully determine and understand the degree of such benefits.