[HISTORY: Adopted by the Board of Commissioners of the Borough of Haddonfield 4-17-2023 by Ord. No. 2023-06. Amendments noted where applicable.]
It is hereby created, under the terms of this chapter, a self-liquidating public utility for all purposes of the Local Bond Law and Local Budget Law of the State of New Jersey for the purpose of operating, maintaining and preserving property within the Borough of Haddonfield, County of Camden, State of New Jersey (the "Borough"), to be used as public parks, playgrounds, tennis facilities, and recreational fields which shall be owned by the Borough and for accounting purposes be a separate entity, having its own borrowing capacity, its own separate accounts and its own separate property, whether it be real, personal or mixed.
The name by which the utility shall be known as is the "Borough of Haddonfield Recreation Utility," hereinafter called the "Utility."
A. 
It shall be the function of the Utility to preserve, care for, construct, maintain, improve and operate lands used as public parks, playgrounds, tennis facilities and recreation fields and for such other recreational purposes and activities; to construct, reconstruct, alter, provide, renew and maintain buildings or other structures and equipment and provide for the care, custody and control thereof in the operation of the Utility; to raise money necessary to pay for the lands, rights or interest therein acquired for public parks, tennis facilities and recreation fields, and for improving and equipping the same; to pay or make provision for the payment of the reasonable expenses in each fiscal year of the Utility; to pay to those persons entitled thereto the interest and principal on notes and bonds of the Utility; and to deposit and accumulate reserve funds or reserves.
B. 
The operation and maintenance of the Borough of Haddonfield Recreation Utility shall be empowered to develop immediate and long-range plans to meet the passive and active recreation-related needs of the Borough and make such improvements as may be necessary to further the goals of the Borough of Haddonfield Recreation Utility and issue notes and bonds in connection therewith.
The Utility shall have the authority to establish, charge, and collect approved fees for program activities and for the use of the Utility's facilities in accordance with municipal ordinances and to use these moneys to defray the cost of the acquisition of lands, rights and interests therein, to equip the facilities, to maintain and improve the public parks, playgrounds, tennis facilities, and recreational fields, to pay the Utility's current expenses and to pay the interest and principal on notes and bonds.
The financial affairs of the Utility shall be governed in accordance with the laws applying to the financial affairs of the municipality and utilities in general and shall be under the direct supervision and control of the Borough of Haddonfield Chief Financial Officer.
The Utility may, from time to time, acquire such real property as may be authorized by the Board of Commissioners by duly adopted ordinances according to the laws of the State of New Jersey.