§ 45-37-1 - Declaration of need and purpose.
SECTION 45-37-1
§ 45-37-1 Declaration of need and purpose.– It is declared that there is a need for the development of industrial,manufacturing, commercial, and warehouse facilities to insure the continuedgrowth and prosperity of the state, and of the cities and towns within thestate. It is the purpose of this chapter to provide the state and its citiesand towns with the power to acquire title by gift to one or more industrialfacilities and to lease or sell those facilities to any person, firm,partnership, or corporation, public or private, so as to furnish an additionalmeans for the development of industrial facilities without the use of publicfunds. It is further declared that the acquisition of title to those facilitiesand the lease or sale of those facilities, as provided under this chapter, is apublic purpose and shall be regarded as performing an essential governmentalfunction in carrying out the provisions of this chapter. However, competitionbetween communities in this state merely for the purpose of seeking relocationof industrial facilities located in this state is contrary to the policy ofthis chapter.