§ 601. Declaration of policy and statement of purposes. It is hereby
found, determined and declared:

1. That the New York state off-track pari-mutuel betting law was
created by a chapter of the laws of nineteen hundred seventy;

2. That the New York state off-track pari-mutuel betting commission,
established by such law, was authorized to approve the operation of
off-track pari-mutuel betting systems by public benefit corporations in
participating municipalities;

3. That the operation of an off-track pari-mutuel betting system by a
public benefit corporation in New York city, in accordance with the
provision of the New York state off-track pari-mutuel betting law, is
deemed to be a matter of state concern and a public purpose which cannot
be adequately attained except by the powers of government, and that such
public benefit corporation in the exercise of the powers conferred upon
it by this article, will perform a governmental function.