The Caldwell Wastewater Treatment Plant, located
off of Passaic Avenue in West Caldwell, New Jersey, and the sewerage
system constructed by and owned by the Borough of Caldwell located
in Caldwell and West Caldwell, New Jersey, and the services rendered
through the employment of said property shall hereafter be known and
designated as the "Caldwell Sewerage Utility."
Effective January 1, 1975, the Caldwell Sewerage
Utility shall be operated as a municipal public utility in accordance
with the Local Bond Law, N.J.S.A. 40A:2-1 et seq. and the Local Budget
Law, N.J.S.A. 40A:4-1 et seq.
Effective January, 1, 1975, the Caldwell Sewerage
Utility shall assume all of the obligations and receive all of the
revenues arising from all contracts to provide sewage treatment service
heretofore entered into by the Borough of Caldwell.
The Caldwell Sewerage Utility shall not be available
for public use (except for users within the geographic limits of the
Borough of Caldwell) and shall only provide sewage treatment services
to contractual customers pursuant to contracts authorized by the Borough
Council of the Borough of Caldwell.
The Caldwell Sewerage Utility shall be managed
and administered by the Borough of Caldwell through persons designated
by the Mayor, with the advice and consent of the Borough Council,
and a reasonable administration charge (to be annually fixed by the
Borough Council) shall be paid by the Caldwell Sewerage Utility to
the Borough of Caldwell for said service.
All costs attributable to the Caldwell Sewerage
Utility shall be charged to it, including the debt service on obligations
issued or to be issued on account of capital improvements heretofore
or hereafter made to the sewage treatment facilities or sewerage system,
insurance, employee benefits or other indirect expenses.
All costs of the Caldwell Sewerage Utility paid
or to be paid out of the current fund of the Borough of Caldwell,
and the administration charge, may be offset against any sewer rental
charge made by the Caldwell Sewerage Utility to the Borough of Caldwell.