The Old Bridge Township Municipal Utilities
Authority is hereby established, which shall consist of five regular
members and two alternates appointed by the Council, whose terms shall
be set by resolution of the Council in accordance with N.J.S.A. 40:14B-1
et seq. The members of the Utilities Authority shall receive compensation
by way of a salary in the sum to be designated by a majority vote
of the members of the Utilities Authority, but in no event to exceed
the sum of $1,500 per member per year.