The general assembly recognizes that open land with scenic, natural, and ecological value is important to the character of Rhode Island and provides opportunities for passive recreation. Such open land is rapidly disappearing, and it is in the best interest of the people of the state to take steps to preserve the most important of our irreplaceable open land resources. The municipalities of the state and nonprofit land trusts and other conservation organizations have expressed a willingness to act to save open land of local or regional importance and to make such land available for appropriate public use. In order to support and encourage such land preservation, to protect the scenic and natural heritage of Rhode Island, to improve our quality of life, and to enhance tourism, the general assembly hereby establishes a natural heritage revolving fund to provide zero interest loans to municipalities and to conservation organizations for projects to preserve, protect, and make available for safe use important open space and natural land throughout the state.
R.I. Gen. Laws § 42-17.5-2