Section 2502. Legislative findings and statement of purposes

It is
  hereby found, determined and declared that the city has acquired certain
  large sports facilities located in the city, including  Yankee  stadium,
  Shea   stadium,  Randall's  island  stadium  and  Singer  bowl  and  may
  contemplate the acquisition or construction of other sports  facilities;
  that  other  sports  facilities are maintained or will be constructed in
  the city by public or private corporations;  that  the  maintenance  and
  operation of such facilities in the most efficient and economical manner
  possible  through  the  flexible  and  imaginative  use  of business and
  management skills, the coordination of their activities,  the  providing
  of   amateur,  professional  and  scholastic  sports  events,  meetings,
  exhibitions, cultural events and other events of  civic,  community  and
  general  public interest in such facilities, the promotion of the city's
  competitive position in the field of sports in relation to  other  large
  cities, and the carrying out of these purposes and the functions, powers
  and  duties  provided in this act are essential for the health, welfare,
  recreation and prosperity of the people of the city and state,  for  the
  promotion of competitive sports for youth and the prevention of juvenile
  delinquency  and  for  the improvement of trade and commerce in the city
  and the state.
    It is hereby further found, determined and declared that at all levels
  of government--federal, state and local--experience has shown that  when
  government  operates in a field usually reserved for private enterprise,
  a public authority is a useful device  to  provide  the  creativity  and
  independence  which  regular  government  agencies cannot offer and that
  therefore it is in the public interest to create such an  authority  and
  to  vest  such powers in the authority as are necessary or convenient to
  implement  the  foregoing  purposes  since   neither   unaided   private
  enterprise  nor  government  alone can adequately perform them; that the
  creation and operation of the authority, as hereafter  provided,  is  in
  all  respects  for  the benefit of the people of the city and the state,
  and is a governmental, state, city and  public  purpose;  and  that  the
  exercise  by  such  authority  of  the  functions, powers, and duties as
  hereinafter provided, constitutes the performance of an essential public
  and governmental function.
    * NB (Discontinued-Board of Directors never appointed)