§ 73-10d-1 — Public policy.

The Legislature declares that the policy of this state is to assure its citizens adequate public services, including drinking water, water, and wastewater collection, treatment and disposal at reasonable cost. Adequate public services are essential to the maintenance and general welfare of the citizens of this state and to the continued expansion of the state's economy, job market, and industrial base. The cost of constructing, owning, and operating capital facilities to meet the anticipated growth in the demand for those public services is becoming increasingly burdensome to political subdivisions, particularly to the smaller communities of the state. It is desirable that innovative financing mechanisms be made available to assist the communities of this state to develop capital facilities to provide adequate public services at reasonable cost. Private sector ownership and operation of capital facilities providing public services together with industrial development revenue bond financing of those facilities, can result in cost savings to communities contracting for those public services. It is in the best public interest of the state and its citizens that political subdivisions be authorized to provide public services by access to facilities owned and operated by private persons and financed through the issuance of industrial development revenue bonds, and to contract with private persons for the long-term provision of the services of those facilities.

Legislative History

Amended by Chapter 245, 1985 General Session