PART IV. REVENUE BONDS FOR PUBLIC FACILITY PROJECTS

 

§206E-151  Findings and declarations. The legislature finds and declares that the health, safety, and general welfareof the people of the State require that every opportunity be taken to assistthe redevelopment of community development districts; that the redevelopmentand revitalization of these districts will alleviate community needs foremployment, housing, parks, open space, and commercial and industrialfacilities; that a significant deterrent to redevelopment is the cost of publicfacilities; that interest rates on moneys necessary to finance such publicfacilities add significantly to the cost of such facilities and that morefavorable interest rates would be available through the issuance of tax-exemptbonds; and that the availability of revenue bonds to finance the cost of publicfacilities will facilitate redevelopment of community development districts.

The legislature further finds that the powersconferred, the issuance of revenue bonds, and the expenditure of public moneysunder this part constitute a serving of a valid public purpose, and that thisenactment is in the public interest and is so declared as an expresslegislative determination. [L 1985, c 268, pt of §1; am L 1993, c 311, §5]