B. The authority shall:
1. Prescribe a simplified form and procedure to apply for and approve assistance.
2. Establish by rule criteria that are consistent with this article by which assistance will be awarded.
3. Determine the order and priority of water conservation programs or projects assisted under this section based on the merits of the application with respect to the requirements of sections 49-1332 and 49-1334.
4. Provide that a single water conservation program grant may not exceed $3,000,000, a single water conservation project grant may not exceed $250,000 and at least a twenty-five percent match is required for each water conservation program or project. Monies from any other source may satisfy the match requirement.