§ 24-115-102 — Legislative declaration

(1) The general assembly hereby finds
and declares that:

(a) The population of the state has grown rapidly in recent years, and that
growth has increased the burdens placed upon state and local governments.

(b) The state and local governments have found it difficult to maintain
existing infrastructure and to fully fund critical needs due to a decline in state
revenues that resulted from an economic downturn and constitutional restrictions
on state revenues and expenditures that impaired the ability of the state to fully
recover from that decline in state revenues when economic conditions improved.

(c) In enacting this article, it is the intent of the general assembly to provide
an administrative framework for the state to use to incur voter-approved multiple-fiscal year financial obligations to be used to finance critical state needs as
efficiently and effectively as possible.

Legislative History

Source: L. 2005: Entire article added, p. 745 , � 1, effective June 1.