It is hereby found, determined and declared that there is an immediate need to promote
the further development of recreational opportunities in the state by facilitating
the acquisition, construction and rehabilitation of sports complexes, stadiums, arenas
and related facilities for the holding of professional and amateur athletic events;
to provide a means to attract and locate major professional team franchises in the
state. It is further declared it is desirable that a state sports authority be created
for the purpose of providing and maintaining such sports facilities and the creation
and maintenance of facilities incidental or useful in the operation of sports facilities. It is hereby further declared that the corporate purposes and powers conferred under
this title and the expenditure of public moneys pursuant thereto constitute a serving
of a valid public purpose.
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