A. The water supply development committee is established consisting of seven members of the board, including the four members who are from counties with populations of less than four hundred thousand persons, two members who are from counties with populations of four hundred thousand persons or more and who are selected by a vote of the board and the member of the board who is appointed by the governor and who specializes in finance or statewide water needs. The water supply development committee shall review applications for financial assistance from the water supply development revolving fund and make recommendations to the board regarding those applications for assistance.

B. The long-term water augmentation committee is established consisting of seven members of the board, including the four members who are from counties with populations of four hundred thousand persons or more, two members who are from counties with populations of less than four hundred thousand persons and who are selected by a vote of the board and the member of the board who is appointed by the governor and who specializes in finance or statewide water needs. The long-term water augmentation committee shall review applications for financial assistance from the long-term water augmentation fund and make recommendations to the board regarding those applications for assistance.