The Legislature hereby finds and declares that there is a need to establish procedures for the efficient sale and issuance of bonds or other obligations by State Governmental Entities which are hereby declared to be essential to the economic well-being of the state. The Legislature further declares that there are hereby adopted procedures, requirements and methods allowing for significant systematic oversight of State Governmental Entity issuers of bonds or other obligations. The Legislature further declares such oversight is essential to protect the public welfare of the State of Oklahoma.