In addition to those sums authorized prior to August 28, 1998, the board of fund commissioners of the state of Missouri, as authorized by Section 37(g) of Article III of the Constitution of the State of Missouri, may borrow on the credit of this state the sum of ten million dollars for the purposes of financing and constructing improvements as set out in chapter 640 and in this chapter. The department shall allocate these funds to counties, municipalities, sewer districts, water districts, or any combination of the same to provide grants and loans for rural water and sewer projects.