The Town Board of the Town of Sullivan may,
in its discretion and pursuant to the power and authority granted
by the aforesaid laws, establish a Water Works Corporation pursuant
to § 3 of the Transportation Corporations Law, the shares
of capital stock of which Water Works Corporation shall be owned by
the Town of Sullivan.
The officers and directors of the Water Works
Corporation shall be the members of the Town Board of the Town of
Sullivan, who may exercise all of the rights and privileges and shall
perform all of the duties of officers and directors of transportation
corporations pursuant to the Transportation Corporations Law.