The Legislature finds and declares all of the following:
(a) California’s economy and the well-being of its citizens depend on maintaining a framework of essential public works in fit condition.
(b) Many California public works have been undermaintained or are simply old enough to require rehabilitation or replacement.
(c) Many local governments do not have a viable means of financing needed rehabilitation and replacement of their public facilities and the creation of a suitable financing mechanism is essential.
(Added by Stats. 1985, Ch. 906, Sec. 1.)