The water system of the Borough of Wanaque, New Jersey, acquired or to be acquired by the Borough from the Wanaque Municipal Utilities Authority, is hereby created and established as a municipal public utility for all of the purposes of the Local Bond Law of New Jersey and of N.J.S.A. 40:62-77[1] and it is hereby found and determined to be a utility, enterprise or purpose authorized to be undertaken by the Borough and from which it may receive fees, rents or other charges, and all fees, rents or other charges received by the Borough for or in connection with the use or services of such municipal public utility shall be held, used and applied in accordance with the provisions of said Local Bond Law and any other laws applicable.
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Editor's Note: N.J.S.A. 40:62-77 was repealed by L. 1989, c. 109, § 1.