§ 21.03. Legislative findings and statement of purposes. 1. The
legislature hereby finds, determines and declares:

(a) that it is essential for the general and economic welfare of the
people of the state for the city to remain a unique national and
international center for cultural activities and affairs;

(b) that the city's position as such a unique national and
international cultural center is essential to its position as a center
for national and international finance, communications, publishing,
entertainment, conventions, transportation, shipping and other
enterprises, as well as philanthropic and educational activities and
institutions;

(c) that certain areas of the city will be strengthened and
revitalized by, and the city's reputation and position as a unique
national and international center will be enhanced by, the development
of combined-use facilities and cultural facilities in the city as
provided by this article and by article twenty of this title;

(d) that certain cultural institutions located in the city are
invaluable cultural, educational and recreational resources of the state
and the continued operation of such institutions in the city is for the
benefit of the people of the state;

(e) that by reason of the severe economic and fiscal problems facing
both the state and city, neither the state nor the city is able
adequately to support the cultural institutions of the city in their
efforts both to provide cultural, recreational and educational
opportunities to the people of the state and to maintain the position of
the city as a unique national and international cultural center; and

(f) that it is in the interest of the people of the state and for
their benefit and welfare to encourage the creative and innovative use
of public and private resources in order to preserve and protect the
cultural resources of the city and otherwise to effectuate the purposes
of this article and article twenty of this chapter by the creation of
the trust for cultural resources of the city of New York.

2. The legislature hereby further finds, determines and declares that
the creation of the trust for cultural resources of the city of New York
and the delegation to the trust of part of the sovereign power of the
state are in all respects for the benefit of the people of the state and
constitute a governmental, state, municipal and public purpose; and that
the exercise by the trust of the functions and powers granted to it
under this article constitutes the performance of an essential public
and governmental function.