(a) The Arkansas Natural Resources Commission is authorized to receive on behalf of the State of Arkansas any or all federal moneys, grants, contributions, gratuities, or loans available for territory and projects within the jurisdiction of the commission or hereafter made available by the United States Government or any of its agencies or instrumentalities for flood control work and improvement under such rules and regulations not inconsistent with the provisions of this chapter as may be provided by laws of the United States Congress or any federal agency or instrumentality and to receive donations, contributions, and gratuities from any other source and to pay them over to the Treasurer of State.
(b)
(1) It shall be the duty of the Treasurer of State to set up a fund known as the "State Flood Control Fund", and all money shall be placed into the fund by the Treasurer of State.
(2)
(A) The fund shall not be used for any purpose except the purposes set forth in this chapter.
(B) Provided, there is reserved to all levee districts or drainage districts the authority and right to receive on behalf of the levee districts or drainage districts any and all federal moneys, grants, contributions, gratuities, loans, or other governmental aid whatsoever that may be applicable to the projects, improvements, or territory within any levee district or drainage district.
(c) In all matters, the levee districts or drainage districts may deal directly with the United States Government and with its agencies or any of them without the approval, consent, or supervision of the commission and without being subject to its jurisdiction to any extent whatsoever, except that levee districts or drainage districts may voluntarily contract with the commission by contract to be approved and recorded as set out in this chapter.
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