Section 5-1.4-2-1.5 - Public purpose The general assembly finds that the establishment of a local public improvement bond bank in a city described in IC 5-1.4-1-5(3):
(1) is necessary as a result of: (A) unique sources of revenues available to the city in relation to its budget;(B) extraordinary needs for infrastructure improvements in the city and in the county in which the city is located;(C) unprecedented opportunities for economic development, including tourism development; and(D) unique demands for education and workforce development, including facilities for providing education and training;(2) will afford the city the necessary flexibility to address the extraordinary demands and opportunities in a manner that will best serve the interests of the city and the state; and(3) constitutes an important public purpose and will protect and improve the health, safety, and welfare of the people of the city and the state.As added by P.L. 255-1997 (ss), SEC.4.