Sec. 5. The purpose of the authority is to promote cooperation among the units participating in the authority in order to assist the development of the units included in the agreement by doing the following:
(1) Utilizing private and public sector resources to address development problems and opportunities.
(2) Planning, developing, rehabilitating, and otherwise managing infrastructure located in the authority's jurisdiction.
(3) Supplementing, but not supplanting, traditional local or state responsibilities.
(4) Providing financial resources to local communities to address their infrastructure needs.
(5) Providing revenue bonding capacity and resources for bond retirement, or lease rental capacity and resources, that can be directed to development or recapitalization of infrastructure located in the authority's jurisdiction.
(6) Providing the means to develop revenue producing infrastructure ventures, where revenue can be rechanneled back into the overall infrastructure development effort.
(7) Providing an overall balanced infrastructure investment strategy that addresses important needs of the participating units for capital projects.
(8) Providing operating involvement appropriate to each infrastructure component.
(9) Providing for a continuing and stable source of public funding for infrastructure development for participating units.
(10) Providing the mechanism to address other regional services as determined to be appropriate by the board.
As added by P.L.346-1989(ss), SEC.7. Amended by P.L.86-1999, SEC.8.
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