The Legislature hereby declares that the purpose of this act, and of House Joint Resolution 514 of the Twenty-ninth Legislative Session, is to carry out the constitutional mandate in Section 34, Article X, wherein the Legislature is required to enact appropriate and needful legislation establishing safeguards and regulations governing the lending of funds for industrial development purposes which it considers necessary to the vitalization of said constitutional amendment and helpful in assisting with the state's industrial development.
Laws 1963, c. 334, § 1, emerg. eff. June 22, 1963.