Legislative intent

It is the intent of the Legislature to authorize cities to finance, acquire, own, lease, improve and dispose of properties to: 1. Promote industry and employment and develop trade by inducing manufacturing, industrial, warehousing and other commercial enterprises and organizations for research and development to locate in, remain or expand in this State to further prosperity throughout the State and to further the use of the agricultural products and the natural resources of this State. 2. Enhance public safety by protecting hotels, motels, apartment buildings, casinos, office buildings and their occupants from fire. 3. Protect the health, safety and welfare of the public and promote private industry, commerce and employment in this State by: (a) Reducing, abating or preventing pollution or removing or treating any substance in processed material which would cause pollution; and (b) Furnishing energy, including electricity to the public, if available on reasonable demand, and providing facilities to transmit electricity for sale outside the State. 4. Promote the health of residents of the city by enabling a private enterprise to acquire, develop, expand and maintain health and care facilities and supplemental facilities for health and care facilities which will provide services of high quality to those residents at reasonable rates. 5. Promote the social welfare of the residents of the city by enabling corporations for public benefit to acquire, develop, expand and maintain facilities that provide services for those residents. 6. Promote the social welfare of the residents of the city by financing the acquisition, development, construction, improvement, expansion and maintenance of affordable housing in the city.