(a) Upon the date and at the time and place named in the notice, the circuit court shall meet and shall hear all persons who wish to appear and advocate or resist the establishment of the water district. If the court, after being satisfied as to the sufficiency of the petition and the proceedings thereon, finds and deems it to be in the best interests of the persons residing or owning land within the boundaries of the proposed water district that the water district be established under the terms of this chapter, then the court shall enter its order establishing a water district embracing the territory described in the petition, subject to all the terms and provisions in this chapter and designating a name for the water district.

(b) The order establishing the water district shall empower the water district, to the full extent that the State of Arkansas can grant that right, the right to acquire absolute title to and use of water stored in any water source as referred to in § 14-116-102 or in the reservoir created, or to be created, by the construction of the dam by, or under the direction and supervision of, the United States Army Corps of Engineers or by the water district with federal financial or other assistance furnished by the United States Secretary of Agriculture under the provisions of the Watershed Protection and Flood Prevention Act, or any other federal law. The water district shall by the order be empowered to enter into contracts of assurances with the United States of America for the storage, procurement, or removal of the water from the reservoir or other such water source. The order establishing the water district shall have all the force and effect of a judgment. Any person aggrieved by the entry of the order by the court may appeal, as in other cases of appeal, to the Supreme Court, from the order within thirty (30) days after the order has been made. If no appeal is taken within that time, the order authorizing and creating the water district shall be deemed conclusive, and any person residing or owning land in the district may in like manner and time appeal from any order refusing to establish the water district.