§ 3051. Legislative findings and statement of purposes. The
legislature hereby finds and declares that it is necessary for a
municipal assistance corporation to be created to assist the city of
Troy in providing essential services to its inhabitants without
interruption and in creating investor confidence in the soundness of the
obligations of such city so that it may retain its ability to sell its
obligations to the public.

The legislature further finds that it is in the interest of the state
of New York and the city of Troy that certain capital programs of the
city of Troy be funded, and certain cumulative deficits of the city of
Troy be liquidated, with the proceeds of debt obligations, including
securities of the municipal assistance corporation for the city of Troy.