A program is hereby authorized to provide for the beneficial utilization of water resources within the State of Oklahoma through the planning, development, construction, improvement, conservation, ownership, operation and financing of water resource and sewage treatment works, facilities and projects with state monies appropriated to the Statewide Water Development Revolving Fund and monies in the Water Resources Fund. State monies appropriated to the Statewide Water Development Revolving Fund and monies in the Water Resources Fund shall be used only as authorized by the Legislature to provide for the furnishing of financial assistance to municipalities, political subdivisions and such other public entities of the state as may be designated by law as being eligible for such assistance for water resource and sewage treatment purposes. Any state liability arising from the implementation of such a program shall be limited to those monies in the Statewide Water Development Revolving Fund which have been reserved for the undertaking producing the liability. The provisions of this section shall be independent of and not be limited by the provisions of Sections 14 and 15 of Article X of the Oklahoma Constitution.