Section 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.