The board is authorized to develop water resources and make such resources available to farmers and ranchers based upon demonstrated need from emergency funds appropriated and deposited in the emergency water resources construction account created pursuant to this act, for the exclusive purpose of developing and making water resources available to farmers and ranchers including, but not limited to, the development of springs, the drilling of wells, the installation of necessary water pipes, the construction of livestock watering storage ponds and the construction of livestock watering troughs or other watering facilities.