SEC. 57-10-403. Legislative findings and declarations. [Repealed effective October 1, 2005].
(1) The Legislature finds and declares that the general welfare and material well-being of citizens of the state depend in large measure upon the development and growth of industry in the state.
(2) The Legislature finds and declares further that it is in the best interest of the state to induce the location or expansion of manufacturing facilities within this state in order to advance the public purposes of relieving unemployment by creating new jobs within this state that, but for the inducements to be offered by the corporation to approved companies as herein provided, would not exist, and of creating new sources of tax revenues for the support of the public services provided by this state and country.
(3) The Legislature finds and declares further that the authority granted by this article and the purposes to be accomplished hereby are proper governmental and public purposes for which public monies may be expended, and that the inducement of the location or expansion of manufacturing facilities within the state is of paramount importance, mandating that the provisions of this act be liberally construed and applied in order to advance the public purposes.
SOURCES: Laws, 1993, ch. 565, § 2; reenacted without change, Laws, 1997, ch. 576, § 2; reenacted without change, Laws, 2000, ch. 425, § 2; reenacted without change, Laws, 2001, ch. 337, § 2, HB 781, eff from and after passage (approved Mar. 6, 2001.)
PREVIOUS VERSIONS: Pre-2001