The Legislature hereby finds and declares that it is in the interest of the state and its people for the state to do all of the following:

1. (a) Reconstruct, remodel, or replace existing school buildings that are educationally inadequate or that do not meet current structural safety requirements.
2. (b) Acquire new schoolsites and buildings to be made available to school districts, charter schools, and community college districts for the pupils of the public education system, which is a matter of general concern inasmuch as the education of the state’s children is an obligation and function of the state.
3. (c) Assist school districts and community college districts by providing access to financing for working capital and capital improvements.