The division may, for the purpose of carrying out the project or any part thereof authorized by this chapter, accept or use any federal or state funds or assistance, or both, provided thereof under any federal or state law. In the event that federal or state funds or assistance are made available for execution of the project, the project shall be carried out and executed in all respect subject to the provisions of the appropriate federal and state laws providing for the construction and operation of such projects, and the rules and regulations made pursuant thereto, and to such terms, conditions, rules, and regulations, not inconsistent with such federal and state law, rules, and regulations, as the division may establish to ensure the proper execution of the project.