(a) The Director of the Arkansas Natural Resources Commission shall grant a permit after he or she determines that the water to be used:

1. (1) Is excess surface water as defined herein;
2. (2) Is intended for a reasonable and beneficial use; and
3. (3) Will cause no significant adverse environmental impact.

(c) In determining the reasonability of the proposed use the director may consider the following:

1. (1) The lack of availability at a reasonable cost of alternative sources of water;
2. (2) The environmental impact of the proposed transfer; and
3. (3) The effect of the proposed transfer on other lawful water uses.