[HISTORY: Adopted by the Township Committee
of the Township of Pemberton 4-11-1980 as Ord. No. 10-1980. Section 50-2 amended
at time of adoption of Code; see Ch. 1, General Provisions, Art. I.
Other amendments noted where applicable.]
The revenues derived by the township by virtue
of its ownership of the systems, which revenues shall be in the form
of rent paid to the township by the Authority pursuant to the agreement
of lease, and the appropriations in respect of the systems shall hereafter
be set forth in a separate section of the budget of the township in
each fiscal year of the township, and appropriate officials of the
township and the Township Auditor are hereby authorized and directed
to take such action and to prepare such documentation as shall be
necessary or appropriate to effect the establishment of said separate
section of the township budget.
[1]
Editor's Note: A preamble to Ord. No. 10-1980
recites that in the 1980 fiscal year the Township of Pemberton ("Township")
intends to acquire the sewage treatment and collection systems ("systems")
of the Pemberton Township Municipal Utilities Authority ("Authority"),
to finance the acquisition with a loan from the Farmers Home Administration
of the United States Department of Agriculture and to lease the systems
to the Authority under an agreement of lease providing that the Authority
shall pay rent to the township in amounts sufficient to enable the
township to pay debt service on its loan.
The preamble also recites that the Local Finance
Board of the New Jersey Department of Community Affairs ("Local Finance
Board") has determined that the systems as acquired and expanded constitute
a self-liquidating purpose under the Local Bond Law and that the loan
is not to be included in the net debt of the township.
The preamble further states that the Local
Finance Board has directed the township to take such action as shall
be necessary to place the revenues derived from its ownership of the
system and appropriations therefor in a separate section of the township
budget and to establish a separate fund into which all moneys derived
from the systems are to be separated and applied only as provided
in the Local Budget Law.
[2]
Editor's Note: Ord. No. 7-2019, adopted 10-2-2019, dissolved
the Pemberton Municipal Authority and transferred its operations into
the Department of Public Works.
All moneys derived by the township from the
systems shall be segregated by the township and held in a separate
fund to be known as the "Sewer Utility Fund," as prescribed by Section
40A:4-62 of the Local Budget Law and the Local Finance Board order,
and shall be applied by the township as provided in said Section 40A:4-62.
The Township Administrator and such other persons as may be designated
by the Administrator are hereby authorized and directed to take such
action and prepare such documentation as shall be necessary or appropriate
to effect the establishment of the Sewer Utility Fund.
As required by Section 40A:4-63 of the Local
Budget Law, moneys held in the Sewer Utility Fund shall be treated
by township officials as moneys held in trust for the purpose for
which the Sewer Utility Fund was created, and no banking institution
accepting the Sewer Utility Fund shall divert the moneys therein to
any other purpose.
