[Amended 6-6-2006 by Ord. No. O:2006-24]
A Municipal Sewer Utility is hereby established within the Town of Phillipsburg in the County of Warren and State of New Jersey for the regulation and use of a municipal sewage treatment plant, to ensure proper operation and the protection and preservation of the sewage treatment plant, to fix the amount and charges therefor and to provide rules and regulations therefor. The municipal sewage treatment plant, including any appurtenant structures, works, fixtures and equipment relating thereto and all extensions and improvements thereof situate in, constructed or acquired at public expense by the Town of Phillipsburg, shall hereafter be operated, maintained, managed and controlled by the Town Council of the Town of Phillipsburg as a publicly owned municipal sewer utility and shall, for accounting purposes, be a separate entity having its own borrowing capacity, its own separate accounts and its own separate property, whether real, personal or mixed, within the meaning of N.J.S.A. 40A:4-33 and N.J.S.A. 40A:26A-1 et seq., amendments thereof and supplements thereto, and all other provisions of other laws applicable.