(1) "Commission" means the Arkansas Natural Resources Commission;

(2) "Cooperative agreement" means an agreement entered into between the federal government and the state and a local government in Arkansas;

(3) "Cost sharing" means a program in which the state or local governments in Arkansas are financially responsible for the nonfederal share of various water resources development projects;

(4) "Local governments" means all political subdivisions of the State of Arkansas which shall include, but not be limited to:

(A) Cities of the first class, cities of the second class, and incorporated towns;

(B) All county governments and their agencies;

(C) All regional water districts;

(D) All conservation districts;

(E) All irrigation and drainage improvement districts;

(F) All levee improvement districts;

(G) All drainage improvement districts;

(H) All drainage and levee improvement districts; and

(I) Other political subdivisions of the state;

(5) "Revolving fund" means the Arkansas Water Resources Cost Share Revolving Fund created by this subchapter;

(6) "State" means the State of Arkansas or its instrumentalities; and

(7) "Water resources development project" means the construction, acquisition, ownership, replacement, operation, and maintenance of facilities, including land, easements, and works of improvement, for the protection, conservation, preservation, development, utilization, and proper disposal of the state's water resources and related land resources in order to:

(A) Provide for the people of the state:

(i) Adequate supplies of quality water for municipal, industrial, agricultural, recreational, and domestic purposes;

(ii) Water for navigation; and

(iii) Access to the state's lakes and streams and parks and other recreational sites along their shores; and

(B) Reclaim, preserve, and protect the state's land resources and adequately protect the wealth of the state from disastrous floods.