(a) The General Assembly finds that:

(1) There is a continuing need to apply the resources of the State to implement plans for air, water, vehicular, public and specialized transportation in the State;

(2) There is a continuing need to implement such plans on a comprehensive and integrated basis for the benefit of all people in the State and the users of those facilities from other states in order to obtain an economical, efficient and unified system of air, water, vehicular, public and specialized transportation;

(3) There is a continuing need to provide methods for financing existing and future transportation facilities in the State to maintain and develop such economical transportation systems for the health, welfare, convenience and safety of the people of the State and the users of those facilities from other states; and

(4) Air, water, vehicular, public and specialized transportation facilities form a unified system of transportation because, among other reasons:

a. Such facilities, as a whole, contribute to the commerce of the State and unification of the planning for and financing of such facilities will increase the economic vitality of the State;

b. The use of 1 form of or facility for transportation will reduce congestion in the use of another form of or facility for transportation; and

c. The use of public and specialized transportation will reduce environmental pollution and conserve energy for the benefit of all users of transportation facilities and for the benefit of the people of this State and such unified system of transportation is of grave concern to the State.

(b) The General Assembly hereby determines that in order to remedy such conditions and to implement the purposes of this chapter, there shall be created an authority which shall be a body politic and corporate constituting a public instrumentality having the powers, duties and functions provided in this chapter; that the creation of the authority and the powers conferred on such authority under this chapter and the expenditure of moneys pursuant to this chapter constitute a valid public purpose and the performance of a valid public function; that the enactment of the provisions hereinafter set forth is in the public interest and for the public benefit and welfare and is hereby so declared to be as a matter of express legislative determination.

60 Del. Laws, c. 503, § 8; 62 Del. Laws, c. 164, §§ 1, 2; 63 Del. Laws, c. 179, § 28.