There is hereby created in the State Treasury a revolving fund for the Oklahoma Department of Transportation to be designated the “McClellan-Kerr Arkansas River Navigation System Infrastructure Revolving Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, for the purpose of pooling all monies received by the Oklahoma Department of Transportation from appropriations, dedicated revenues, federal funds, private contributions or other sources authorized by law dedicated to the McClellan-Kerr Arkansas River Navigation System (MKARNS). All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Oklahoma Department of Transportation upon a recommendation by the Waterways Advisory Board of the Oklahoma Department of Transportation and upon consultation with all Native American tribes with an ownership interest in the Arkansas riverbed for the purpose of repairing or constructing assets which are part of the MKARNS located in the State of Oklahoma which are essential to the safe and efficient operation of such system and may also be used to match federal grants and awards associated with channel improvements of the MKARNS, whether due to natural disasters, emergency conditions, operations and maintenance needs or construction projects. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.