It is declared that for the benefit of the people of the state of Rhode Island, the increase of their commerce, welfare, and prosperity, and the improvement of their health and living conditions, it is essential that this and future generations of youth be given the fullest opportunity to learn and to develop their intellectual and mental capacities; that it is essential that educational institutions within the state be provided with appropriate additional means to assist youth in achieving the required levels of learning and development of their intellectual and mental capacities; and that it is the purpose of this chapter to provide a measure of assistance and an alternative method to enable educational institutions in the state to provide the facilities and structures which are sorely needed to accomplish the purposes of this chapter, all to the public benefit and good. It is also the purpose of this chapter to provide the state and its cities and towns with the power to acquire title by gift to one or more educational facilities and to lease or sell those facilities to any educational institution within the state so as to furnish an additional means for the development of educational facilities without the use of public funds. It is further declared that the acquisition of title to those educational facilities, and the lease or sale of those facilities as provided under this chapter, is a public purpose and shall be regarded as performing an essential governmental function in carrying out the provisions of this chapter.