CHAPTER 162-I BUSINESS FINANCE AUTHORITY REVENUE BONDS
Section 162-I:1
162-I:1 Declaration of Need and Purpose. –
I. It is hereby declared that there is a need for the development of industrial facilities, including pollution control facilities, commercial facilities in redevelopment project areas, water powered electric generating facilities and aircraft hangar facilities within the state in order to create or preserve employment opportunities, protect the physical environment, preserve or increase the social or economic prosperity of the state and its political subdivisions and promote the general welfare of the state's citizens.
II. It is hereby declared that there is a need for the acquisition, construction and reconstruction of railroad line facilities in order to maintain or improve the transportation capacity of the railroad system in the state, facilitate the economical shipment of goods for commerce and industry, preserve or increase the social or economic prosperity of the state and its political subdivisions and promote the general welfare of the state's citizens.
III. It is hereby declared that there is need for the development of recreational facilities in order to create or preserve employment opportunities or increase the opportunities for public recreational activities and to preserve or increase the social or economic prosperity of the state and its political subdivisions and promote the general welfare of the state's citizens.
IV. It is hereby declared that there is a need for the development of small scale power facilities in the state in order to reduce the state's dependence on fossil fuels, better utilize the state's energy sources, provide stable and affordable sources of energy for businesses and citizens of the state, preserve or increase the social or economic prosperity of the state and its political subdivisions and promote the general welfare of the state's citizens.
V. It is the purpose of this chapter to authorize the state, acting through the business finance authority, to foster and encourage the development of eligible facilities, as defined in this chapter, in the state without the use of public funds by issuing revenue bonds to assist the financing of the eligible facilities. It is further declared that the actions authorized by this chapter serve a public purpose and that in carrying out the provisions of this chapter the business finance authority shall be regarded as performing an essential governmental function.
VI. It is hereby declared that there is a need for the development, acquisition, construction, expansion, and replacement of water facilities in the state in order to maintain and improve the supply of water for domestic, industrial, agricultural or other uses by the public, preserve or increase the social or economic prosperity of the state and its political subdivisions, and promote the general welfare of the state's citizens.
VII. It is hereby declared that there is a need for the acquisition, construction and reconstruction of commercial fishing vessels and the development of related shoreside facilities in order to promote the growth of the fishing industry in the state, create or preserve employment opportunities, preserve or increase the social or economic prosperity of the state and its political subdivisions, and promote the general welfare of the state's citizens.
VIII. It is hereby declared that there is a need for the development of intrastate energy pipeline facilities to make use of the additional capacity provided by the construction of additional interstate energy pipeline facilities in the state, thereby increasing the state's ability to meet the energy needs of its citizens and businesses at the lowest reasonable cost while providing for the reliability and diversity of energy sources, and creating or preserving employment opportunities, protecting the physical environment, preserving or increasing the social or economic prosperity of the state and its political subdivisions, and promoting the general welfare of the state's citizens.
IX. It is hereby declared that there is a need for development in unincorporated places which lack local controls, incentives, tax structures, and other mechanisms usually used to promote growth, in order to create, revive, or preserve employment opportunities, preserve or increase the social or economic prosperity of the state and its political subdivisions, or promote the general welfare of the state's citizens.