§7-12-2. Purposes.
The purposes for which the authority is created are to promote, develop
and advance the business prosperity and economic welfare of the
municipality or county for which it is created, its citizens and its
industrial complex; to encourage and assist through loans, investments
or other business transactions in the locating of new business and
industry within the municipality or county and to rehabilitate and
assist existing businesses and industries therein; to stimulate and
promote the expansion of all kinds of business and industrial activity
which will tend to advance business and industrial development and
maintain the economic stability of the municipality or county, provide
maximum opportunities for employment, encourage thrift, and improve the
standard of living of the citizens of the county; to cooperate and act
in conjunction with other organizations, federal, state or local, in the
promotion and advancement of industrial, commercial, agricultural, and
recreational developments within the municipality or county; and to
furnish money and credit, land and industrial sites, technical
assistance and such other aid as may be deemed requisite to approved and
deserving applicants for the promotion, development and conduct of all
kinds of business activity within the municipality or county.