The Township Committee of the Township of Hamilton does and it hereby
authorizes the execution of an agreement between the Township of Hamilton
and the Hamilton Township Municipal Authority to:
A. Set over, transfer, assign and surrender all of the right,
title, interest and estate of the Township of Hamilton in and to the Water
Utility to the Hamilton Township Municipal Authority.
B. Provide in said agreement that the Authority shall assume
liability on and after said transfer for the payment of water bonds and other
debts of the Water Utility.
C. Provide further in said agreement that the effective
date of the transfer of said Water Utility shall occur as of the date of commencement
of intended sewerage improvements by the Authority.