A. The legislature finds that:

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(1)     colonias lack basic infrastructure resulting in poor social, health and economic conditions;

(2)     adequate infrastructure such as water and wastewater systems, solid waste disposal facilities, flood and drainage control, roads and housing infrastructure are essential to improved health, safety and welfare of all New Mexicans, including residents of the colonia communities;

(3)     local efforts and resources have been insufficient to develop and maintain a consistent and adequate level of infrastructure;

(4)     addressing the urgent need of replacing, improving and developing infrastructure through the use of an alternative financing mechanism is a long-term cost savings benefit to both the state and the communities; and

(5)     adequate infrastructure development allows colonia residents to achieve the basic conditions necessary to improve the quality of their lives.

B. The purposes of the Colonias Infrastructure Act are to:

(1)     ensure adequate financial resources for infrastructure development for colonia recognized communities;

(2)     provide for the planning and development of infrastructure in an efficient and cost-effective manner; and

(3)     develop infrastructure projects to improve quality of life and encourage economic development.