(a)
- (1) If the application is found by the Director of the Arkansas Natural Resources Commission to be complete and accurate, the director will issue a Certificate of Existence.
- (2) The water authority referred to therein will come into existence as a public body politic and governmental entity of the state under the name set forth in the Certificate of Existence.
- (b) The water authority will then be vested with the rights and powers granted in Arkansas Code § 4-35-101 et seq.