Recognizing that the operation of publicly owned water systems and wastewater facilities is necessary for the protection of the public health and the environment, and recognizing that water systems and wastewater facilities operating with continuous financial losses threaten the proper operation of water systems and wastewater facilities, it is declared to be the purpose of this section and §§68-221-1008 —68-221-1012 to correct financial losses through the establishment of a water and wastewater financing board empowered to effect reasonable user rate increases or to effect system efficiencies through the negotiated consolidation of certain water systems and wastewater facilities.