TITLE 45

Towns and cities

CHAPTER 45-37

Gifts of Industrial Facilities

SECTION 45-37-1



   § 45-37-1  Declaration of need and purpose.

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It is declared that there is a need for the development of industrial,

manufacturing, commercial, and warehouse facilities to insure the continued

growth and prosperity of the state, and of the cities and towns within the

state. It is the purpose of this chapter to provide the state and its cities

and towns with the power to acquire title by gift to one or more industrial

facilities and to lease or sell those facilities to any person, firm,

partnership, or corporation, public or private, so as to furnish an additional

means for the development of industrial facilities without the use of public

funds. It is further declared that the acquisition of title to those facilities

and the lease or sale of those facilities, as provided under this chapter, is a

public purpose and shall be regarded as performing an essential governmental

function in carrying out the provisions of this chapter. However, competition

between communities in this state merely for the purpose of seeking relocation

of industrial facilities located in this state is contrary to the policy of

this chapter.



History of Section.

(P.L. 1965, ch. 198, § 1.)