The Legislature hereby finds and declares (1) that cooperative action by municipalities of this state in the fields of the supplying, treatment, and distribution of water, the generation, transmission, and distribution of electric power and energy, and the collection, treatment, and disposal of sewerage and solid waste is in the public interest; (2) that there is a need in order to insure the stability and continued viability of such systems to provide for a means by which municipalities may cooperate with one another in the financing, acquisition, and operation of such facilities and interests therein and rights thereto in all ways possible; (3) that the creation of agencies through which the municipalities of this state may act cooperatively is in the best interest of this state and the inhabitants thereof and is for a public use and public purpose; and (4) that the necessity in the public interest for the provisions included in the Municipal Cooperative Financing Act is declared as a matter of legislative determination. It is further declared that the intent of the act is to replace competition between participating municipalities in connection with the projects described in the act by allowing such municipalities to combine and cooperate in connection with the acquisition, construction, operation, financing, and all other functions authorized by the act with respect to such projects.