(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “White River Navigation Fund”.
(b) The fund shall consist of moneys that may be appropriated for the fund by the General Assembly.
(c) The fund shall be used by the Arkansas Waterways Commission in making available the state funds that may be required by the United States Congress in connection with the White River Navigation Improvement Project, if the United States Congress authorizes the project, and shall provide funds to the United States Army Corps of Engineers for the project, conditioned upon the State of Arkansas' providing financial assistance in connection with defraying a portion of the cost of the project.