It is hereby declared that for the benefit of the people of the State of Maryland, 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 institutions for higher education and noncollegiate educational institutions within the State be provided with appropriate additional means to assist such youths in achieving the required levels of learning and development of their intellectual and mental capacities; that it is essential that hospitals within the State be provided with appropriate additional means to expand, enlarge and establish hospitals and other related health care facilities; that it is essential that institutions for higher education, noncollegiate educational institutions, and hospitals within the State be able to finance and refinance projects at the least cost to the users thereof; that existing facilities for education and health care and existing financing vehicles available to the institutions concerned are insufficient to meet these needs and such institutions are not able with present means to construct sufficient such facilities and adequately to finance and refinance such facilities, in order to provide such facilities at the least cost to the users thereof; and that it is the purpose of this article to provide a measure of assistance and an additional method to enable institutions for higher education, noncollegiate educational institutions, and hospitals in the State to provide, and to finance and refinance, at the least cost to the users thereof, the facilities and structures which are needed to accomplish the purposes of this article, all to the public benefit and good to the extent and in the manner provided herein.