Sec. 3. Storage reservoirs providing for the regulation of the flow of the rivers and water of Indiana in the interest of:
(1) flood control, water supply for all beneficial purposes, water quality control, navigation, and both general and fish and wildlife recreation; or
(2) any feasible combination of the purposes described in subdivision (1);
are in the public interest and contribute to the general economy, welfare, public health, and safety of the people of Indiana.