The general assembly finds and declares that:

(1)  Transportation plays a critical role in enabling economic activity in the state of Rhode Island;

(2)  Cities and towns can lower the costs of borrowing for road and bridge projects through cooperation with the Rhode Island infrastructure bank;

(3)  The Clean Water and Drinking Water Fund programs administered by the Rhode Island infrastructure bank benefit from the highest bond rating of any public entity in the state of Rhode Island; and

(4)  Greater coordination among cities and towns will enable more efficient allocation of infrastructure resources by the state of Rhode Island.