Sec. 1.5. 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.
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