[HISTORY: Adopted by the Mayor and Council of the Borough of Runnemede 12-28-2005 by Ord. No. 05-25. Amendments noted where applicable.]
The Borough Council of the Borough of Runnemede does hereby declare and establish a Municipal Sewer Utility Department. This Utility Department shall hereafter be operated and maintained as a self-liquidating Utility Department for all purposes of the Local Bond Law and Local Budget Law of the State of New Jersey. All real property, inventory, fixed assets, accounts receivable, contracts or other personalty previously owned by the Runnemede Sewer Authority, which was dissolved by ordinance of the Borough Council and approved by the State of New Jersey Local Finance Board, shall hereafter be the property of the said Sewer Utility Department.
The said Utility Department is hereby authorized to charge such fees, rents, rates or other charges for or in connection with the use or services of such municipal sewer utility, which sums shall be held, used and applied in accordance with the Local Bond Law and the Local Budget Law of the State of New Jersey as well as other applicable statutes.
Management of the Utility Department herein above established shall be vested in the Borough Council of the Borough of Runnemede, and shall be comprised effectively of those members of the Borough Council and a designee of the Borough Council as the Department Director. The Borough Council shall have the power to establish reasonable rules and regulations governing the sewer utility and its operations.
The existing debt service of the dissolved Borough of Runnemede Municipal Sewer Authority shall be assumed by this newly created Sewer Utility Department as permitted by N.J.S.A. 40A:5A-20.
As referenced in the executive summary of the application to the Local Finance Board, debt service coverage as required by the existing bond resolution will be maintained and the services provided to the residents by the dissolved Authority will continue to be provided by the newly created Sewer Utility Department.
A certified copy of this chapter will be on file with the Borough Clerk and shall be forwarded to the State of New Jersey Department of Community Affairs, Division of Local Government Services.