[HISTORY: Adopted by the Board of Commissioners of the Borough of Collingswood 12-6-2004 by Ord. No. 1359. Amendments noted where applicable.]
There is hereby created under the terms of this chapter a public utility for the purpose of managing its parking operations within the Borough of Collingswood, County of Camden and State of New Jersey. For budgetary and accounting purposes, this utility shall be a separate entity, having its own borrowing capacity, its own separate accounts and its own separate property, whether it be real, personal or mixed.
The name by which the utility shall be known is "the Collingswood Parking Utility," hereinafter the "Utility."
It shall be the function of the Utility to budget and account for the parking operations undertaken by the Borough; to preserve, care for, lay out, construct, maintain, improve and operate lands, buildings, and facilities used for the provision of public parking and the enforcement of the Borough's laws and regulations concerning parking; to construct, reconstruct, alter, provide, renew and maintain buildings or other structures and equipment and provide for the care, custody and control thereof in the operation of the Utility; to raise money necessary to pay for the lands, rights or interest therein acquired for parking activities, and for improving and equipping the same; to pay or make provision for the payment of the reasonable expenses in each fiscal year of the Utility; to pay to those persons entitled thereto the interest and principal on notes and bonds of the Utility, and to deposit and accumulate reserve funds or reserves.
The Utility shall be governed by the ordinances, the Administrative Code, and the resolutions adopted by the Board of Commissioners and by administrative directives.
The financial affairs of the Utility shall be governed in accordance with the statutes applying to the financial affairs of the municipality and utilities in general.
The Utility may, from time to time, acquire such real property as may be authorized by the Board of Commissioners by duly adopted ordinances according to the laws of the State of New Jersey.
The Mayor shall have the full authority to appoint and employ all necessary employees for the Utility. Salaries of the employees will be in accordance with classification and salary ordinances duly adopted by the Board of Commissioners. Portions of salaries of existing employees may be prorated based on the amount of time spent on parking operations compared to the employees full-time Borough responsibilities.
The Utility shall have authority to charge and collect monies for the use of the Utility's facilities whether they be user charges, rental fees, or lease payments, and to use these monies to defray the cost of acquisition of lands, buildings and facilities, rights and interests therein, to equip the facilities, to pay the Utility's current expenses and to pay the interest and principal on notes and bonds.