The Town of Wilton shall have the power to acquire,
construct, maintain and operate a system or systems for the purpose
of supplying water within said Town for domestic, business, industrial
or other use, and to issue bonds from time to time to finance the
costs of acquiring and constructing such system or systems of water
supply, including any lands or rights in land or property, real or
personal, whether within or without said Town, used in the operation
of such system or systems. If said Town shall be unable to obtain
for a reasonable price any land or easement in land required by it
for its purposes, it may acquire such land or easements by condemnation
thereof, in the manner provided by Chapter 34 of the General Statutes
for establishing fire or other districts. The source of supply may
be developed within the Town of Wilton except that no water shall
be diverted from the watersheds tributary to the water supplies of
the first taxing district of Norwalk or the second taxing district
of Norwalk unless on the basis of agreement with such district.
The exclusive control, care and management of
such system or systems shall be exercised by a Board of Water Commissioners
of said Town, to be composed of three electors thereof, who shall
be elected at the same time and in the same manner as other Town officers,
for terms of six years. The Commissioners first elected shall serve,
one until the next biennial Town election, one until the second biennial
Town election and one until the third biennial Town election thereafter.
Said board may appoint and prescribe the powers and duties of a Superintendent
and such other employees as it may deem necessary for such system
or systems of water supply, and may make all regulations needful for
the care, management, operation and maintenance thereof, and for the
distribution and use of water and may establish the manner of payment
therefor, the method of collecting water rents and the penalties for
nonpayment of the same, and may make all contracts and perform all
acts necessary for such purposes.
Any bonds issued pursuant to this act shall
be denominated "water bonds" and shall be coupon bonds bearing interest,
at a rate not exceeding 4% per annum and may be made registerable
either as to principle or as to both interest and principal. Such
bonds may be issued either as a single issue or as one or more separate
issues of bonds. The bonds of each issue shall mature in annual installments,
the first of which shall mature not later than two years and the last
not later than 20 years after the date of issue. Such bonds shall
be issued in such form and in such denomination and shall mature in
such manner and bear such rate or rates of interest and shall contain
such provisions as to time and medium of payment and shall be signed,
executed, sold and delivered in such manner as the Board of Water
Commissioners may determine, subject to the approval of the Board
of Finance and to the limitations and restrictions contained in this
act and in accordance with any determination made by said Town at
any meeting called and held as herein provided. Such bonds shall be
sold for not less than par and shall be issued in the name of and
on behalf of and upon the credit of said Town and, when so executed,
issued and delivered, shall be obligatory upon such Town and upon
the inhabitants thereof according to the tenor and purport of the
same.
Before any system of water supply is acquired
or constructed and any bonds issued pursuant to this act, the Town
of Wilton shall, at a meeting called and held for such purpose, determine
to acquire or construct such system or systems of water supply and
determine, within the limitations prescribed by this act, the maximum
principal amount of bonds to be issued to finance the acquisition
or construction of such system or systems of water supply and the
annual rate of interest, not to exceed 4% to be borne by such bonds.
When the Town of Wilton shall, at a meeting
duly called as herein provided, determined to acquire or construct
any such system or systems of water supply, the Board of Water Commissioners
of said Town shall be authorized to acquire or construct such system
or systems of water supply at a cost which shall not exceed the maximum
principal amount of the bonds determined to be issued for such purpose
and said Board of Water Commissioners shall have the power to do all
things and to perform all acts necessary to acquire or construct such
system or systems of water supply, including the power to purchase
water from any person, corporation or municipal corporation located
within or' without the Town of Wilton.
This act shall take effect upon its approval
at an annual or special Town meeting of the Town of Wilton duly warned
and held for-such purpose.