There is hereby created under the terms of this
chapter a public utility for the purpose of managing its parking operations
within the Borough of Glassboro, County of Gloucester, and State of
New Jersey. For budgetary and accounting purposes, this utility shall
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
is "The Glassboro Parking Utility," hereinafter the "Utility."
It shall be the function of the Utility to budget
and account for the parking operations undertaken by the Borough;
to preserve, care for, lay out, construct, maintain, improve and operate
lands, buildings, and facilities for the provision of public parking
and the enforcement of the Borough's laws and regulations concerning
parking; 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 parking activities, 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.
The Utility shall be governed by the ordinances,
the Administrative Code, and the resolutions adopted by the Mayor
and Council of the Borough of Glassboro and by administrative directives.
The financial affairs of the Utility shall be
governed in accordance with the statutes applying to the financial
affairs of the municipality and utilities in general.
The Utility may, from time to time, acquire
such real property as may be authorized by the Mayor and Council of
the Borough of Glassboro by duly adopted ordinances according to the
laws of the State of New Jersey.
The Mayor shall have the full authority to appoint
and employ all necessary employees for the Utility. Salaries of the
employees will be in accordance with classification and salary ordinances
duly adopted by the Mayor and Council of the Borough of Glassboro.
Portions of salaries of existing employees may be prorated on the
amount of time spent on parking operations compared to the employee's
full-time Borough responsibilities.
The Utility shall have authority to charge and
collect monies for the use of the Utility's facilities, whether they
be user charges, rental fees, or lease payments, and to use these
monies to defray the cost of acquisition of lands, buildings and facilities,
rights and interests therein, to equip the facilities, to pay the
Utility's current expenses and to pay the interest and principal on
notes and bonds.