Section 1232. Legislative intent

The state legislature hereby recognizes
  that the creation of a Nassau  county  sewer  and  storm  water  finance
  authority  will be an effective mechanism to achieve substantial savings
  for past and prospective sewer  and  storm  water  capital  investments.
  Moreover,  such  authority will help ensure the health and well-being of
  all Nassau county residents and promote local environmental  protection.
  As  such, the state legislature herein effectuates these laudable public
  purposes through the establishment of said authority  for  the  specific
  and  limited  objective of refinancing outstanding sewer and storm water
  debt issued by or on behalf of the county and financing future sewer and
  storm water projects. In no manner is this legislation designed to alter
  the county's  administration  or  delivery  of  sewer  and  storm  water
  services to county residents nor is the authority intended to impose any
  additional  pecuniary  burden  on its ratepayers. As a vehicle expressly
  created to consolidate existing sewer districts, refinance debt, provide
  a means for financing new debt and prepare  for  pending  federal  storm
  water  regulatory requirements, the authority will serve as an important
  tool to aid the county's fiscal recovery and benefit  county  taxpayers.
  Further,  the State legislature recognizes that the enactment of chapter
  three hundred fourteen of the laws of two thousand three, extending  the
  oversight capacity of the Nassau county interim finance authority (NIFA)
  through  calendar  year two thousand seven, together with the chapter of
  the laws of two  thousand  three  which  added  this  title,  offers  an
  opportunity  for  NIFA to continue financing the county's tax certiorari
  settlements, thereby providing additional budgetary  relief  and  fiscal
  stability.