[Adopted 5-6-1963 by Ord. No. 280]
The Township Committee of the Township of Hamilton does and it hereby authorizes the execution of an agreement between the Township of Hamilton and the Hamilton Township Municipal Authority to:
A. 
Set over, transfer, assign and surrender all of the right, title, interest and estate of the Township of Hamilton in and to the Water Utility to the Hamilton Township Municipal Authority.
B. 
Provide in said agreement that the Authority shall assume liability on and after said transfer for the payment of water bonds and other debts of the Water Utility.
C. 
Provide further in said agreement that the effective date of the transfer of said Water Utility shall occur as of the date of commencement of intended sewerage improvements by the Authority.