The legislature finds that:
(1) the creation of the fund and the administration of the fund by the board will encourage the conservation and development of the water resources of the state;
(2) the use of the fund is in furtherance of the public purpose of conserving and developing the water resources of the state; and
(3) the use of the 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, and is in furtherance of the public purposes set forth in, § 52-a, Article III, Texas Constitution.