As used in this chapter the following terms
shall have the meanings indicated:
BONDS
Bond anticipation notes or bonds issued in accordance with
the Local Bond Law, N.J.S.A. 40A:2-1 et seq.
LOCAL UNIT
A county or municipality and shall specifically mean the
"City of Bridgeton" where appropriate.
The City of Bridgeton in accordance with N.J.S.A.
40A:31-4 is authorized and empowered:
A. Alone or in combination with another local unit, private
water company or the state, to acquire, construct, improve, extend,
enlarge or reconstruct and finance water supply facilities, and to
operate, manage and control all or part of these facilities and all
properties relating thereto;
B. To issue bonds of the local unit or units to pay all
or part of the cost of the water supply facilities;
C. To receive and accept from the federal or state government,
or any agency or instrumentality thereof, grants or loans for, or
in aid of, the planning, purchase, construction, improvement, extension,
enlargement or reconstruction, or financing of water supply facilities,
and to receive and accept from any source contributions or money,
property, labor or other things of value to be held, used and applied
only for the purposes for which the grants or loans and contributions
are made;
D. To acquire in the name of the City, by gift, purchase,
or by the exercise of the right of eminent domain, such lands and
rights and interests therein, including lands under water and riparian
rights, and such personal property as may be deemed necessary for
acquisition, construction, improvement, extension, enlargement or
reconstruction, or for the efficient operation of any facilities acquired
or constructed under the provisions of this act and to hold and dispose
of all real and personal property so acquired;
E. To make and enter into all contracts and agreements
necessary or incidental to the performance of the City's duties and
the execution of powers authorized under this act, and to employ consulting
and other engineers, superintendents, managers, attorneys, financial
or other consultants or experts, and such other employees and agents
as may be deemed necessary, and to fix their compensation;
F. Subject to the provisions and restrictions set forth
in the ordinance or resolution authorizing or securing any bonds issued
under the provisions of this act, to enter into contracts with the
federal or state government, or any agency or instrumentality thereof,
or with any other local unit, private corporation, copartnership,
association or individual providing for, or relating to, water supply,
which contracts may provide for the furnishing of water supply services
either by or to the local unit or units, or the joint construction
or operation of water supply facilities;
G. To fix and collect rates, fees, rents and other charges
in accordance with this act;
H. To exercise any other powers necessary or incidental
to the effectuation of the general purposes of this act.
All public or private property damaged or destroyed
in carrying out the powers granted by this act shall be restored or
repaired and, as nearly as practicable, placed in its original condition,
or adequate compensation shall be made therefor.
Whenever the City determines that it is necessary
that any public utility facilities such as tracks, pipes, mains, conduits,
cables, wires, towers, poles and other equipment and appliances of
any public utility, as defined in N.J.S.A. 48:2-13, which are now
or hereafter may be located in, on, along, over or under any project,
should be removed, the public utility owning or operating the facilities
shall relocate or remove the same in accordance with the order of
the City; the cost and expense of the relocation or removal, including
the cost of installing the facilities in a new location or new locations,
and the cost of any lands, or any rights or interest in lands, and
any other rights acquired to accomplish the relocation or removal,
less the cost of any lands or any rights of the public utility paid
to the public utility in connection with the relocation or removal
of the property, shall be ascertained and paid as a part of the cost
of the project. In case of any relocation or removal of facilities
pursuant to this section, the public utility owning or operating the
same, its successors or assigns, may maintain and operate the facilities,
with the necessary appurtenances, in the new location for as long
a period, and upon the same terms and conditions, as it had the right
to maintain and operate the facilities in their former location.
The City may determine to have the cost of acquisition
or construction of water supply facilities financed by local improvement
assessments on real properties located within the City pursuant to
N.J.S.A. 40A:31-13 and N.J.S.A. 40A:31-14.
The City shall have the power to authorize,
by resolution, officials to enter into and execute a contract pursuant
to this act for such periods of time and under such terms and conditions
as are deemed proper and necessary, notwithstanding that no appropriation
was made or provided to cover the estimated cost of the contract.
The City Council of the City of Bridgeton shall have full power and
authority to do and perform all acts and things provided under the
terms and conditions of the contract.
The chief fiscal officer of another government
having entered into a contract pursuant to this act shall cause to
be paid to the City such amounts of money at such times as shall be
stipulated in the contract and certified by the City. The power and
obligation to make payments in accordance with the terms of the contract
shall be unlimited, and the sums necessary therefor shall be included
in the annual budget of the other government, which shall be irrevocably
and unconditionally obligated to levy ad valorem taxes on all taxable
property therein, without limits as to rate or amount, to the extent
necessary to make payments in full as due. Any part of a payment that
remains unpaid for 30 days following the date payment is due shall
be assessed an interest charge at a rate of interest at least equal
to the monthly index for the immediately preceding month for twenty-year
tax exempt bond yields as compiled by the bond buyer or any similar
index agreed to by the parties.