It is recognized by the Oklahoma State Legislature that properly constructed, operated and maintained dams used to impound water and create reservoirs for the purposes of public and private water supply, irrigation, industrial use, recreation, fish and wildlife, water quality control, flood prevention and control, sediment control, and other beneficial uses constitute vital parts of the State of Oklahoma's water resources, and that reasonable regulation of such construction, operation and maintenance is beneficial and necessary for the public health and welfare and to protect lives and property. It is the intent of the Legislature that the provisions of this act¹ shall reaffirm and clarify such regulation and the dam safety program of the Oklahoma Water Resources Board already established and shall further provide sufficient basis for communities in the National Flood Insurance Program to obtain favorable consideration of rate decreases for their citizens offered through the Community Rating System administered by the Federal Emergency Management Agency.