The Arkansas Natural Resources Commission may issue revenue bonds from time to time whether or not the interest on the bonds is subject to federal income taxation to provide:
(1) Funds for the: Construction Assistance Revolving Loan Fund established by § 15-5-901;
(2) Safe Drinking Water Fund established by § 15-22-1102;
(3) Arkansas Water Development Fund established by § 15-22-507;
(4) Water, Sewer, and Solid Waste Systems Revolving Fund established by § 19-5-310; and
(5) Arkansas Water Resources Cost Share Revolving Fund established by § 15-22-808; and
(6) Financing all or a portion of the costs of: Water systems;
(7) Wastewater systems;
(8) Solid and hazardous waste facilities;
(9) Recycling facilities;
(10) Nonpoint source pollution management programs;
(11) Wetland conservation and management plans;
(12) Irrigation systems;
(13) Flood control and drainage systems;
(14) Water conservation projects and facilities;
(15) Navigation systems, including port facilities;
(16) Land and water reclamation projects; and
(17) Other environmental or water development projects.