Section 5250-H - Findings and declaration of necessity1.Legislative finding. The Legislature finds that there is a need to encourage development in economically distressed areas of the State in order to: A. Provide new employment opportunities; [2003, c. 688, Pt. D, §2(NEW).]B. Improve existing employment opportunities; [2003, c. 688, Pt. D, §2(NEW).]C. Improve and broaden the tax base; and [2003, c. 688, Pt. D, §2(NEW).]D. Improve the general economy of the State. [2003, c. 688, Pt. D, §2(NEW).] [2003, c. 688, Pt. D, §2(NEW).]
2.Authorization. For the reasons set out in subsection 1, a unit of local government, or 2 or more cooperating units of local government, may develop a program for improving a district within its collective boundaries: A. To provide impetus for targeted business development; [2003, c. 688, Pt. D, §2(NEW).]B. To increase employment; and [2003, c. 688, Pt. D, §2(NEW).]C. To provide the facilities outlined in the development program adopted by the participating units of local government. [2003, c. 688, Pt. D, §2(NEW).] [2003, c. 688, Pt. D, §2(NEW).]
3.Declaration of public purpose. The Legislature declares that the actions required to assist the implementation of these development programs are a public purpose and that the execution and financing of these programs are a public purpose. [2003, c. 688, Pt. D, §2(NEW).]
2003, c. 688, §D2 (NEW) .