Whenever the governing body shall be satisfied and finds that a water emergency exists in the municipality, it may adopt a resolution declaring that a water emergency exists in the municipality. Such resolution shall be adopted by the governing body at any regular, special, adjourned or emergency public meeting of the governing body. Such resolution shall identify that portion of the municipality affected by the water emergency, which may include the entire municipality, and shall specify which of the water use regulations contained in § 382-2 of this article is being imposed, as well as any exemptions as may be authorized. Such resolution shall be effective immediately upon publication according to law and shall continue in effect for 90 days, unless extended or repealed as set forth in § 382-3 of this article. For the purpose of this section, a water emergency shall exist if, for any of the following reasons:
A.
The public utility providing water service to all or a portion of the municipality has adopted water use restrictions, has notified the municipality, the New Jersey Board of Public Utilities and the New Jersey Department of Environmental Protection, as well as any other state, county or legal agency entitled to notice of such restrictions, which are not overruled or declared invalid by any state, county or local agency having the jurisdiction and power to do so; or
B.
The governing authority is otherwise satisfied that a water emergency exists in the municipality.