[HISTORY: Adopted by the Borough Council of the Borough of Pennington 12-29-1983 by Ord. No. 366. Amendments noted where applicable.]
A Sewer Utility is established within the existing Water Utility in and for the Borough of Pennington, County of Mercer, which said utility shall be under the control of Borough Council of the Borough of Pennington. This combined utility shall be known as the Pennington Water and Sewer Company.
All future revenue and accounting therefor from said Water and Sewer Utility shall be on a dedicated utility basis in conformity with the Revised Statutes of the State of New Jersey, and all moneys derived from the operation of said Water and Sewer Utility and any other moneys applicable to its support shall be segregated and kept in the separate fund currently established for the Borough Water Utility, and all disbursements for the operation and maintenance of said water and sewer operations shall be taken from said fund.
The dedicated budget of this Water and Sewer Utility shall include appropriations for operating expenses, capital improvements, debt services for the payment of all sanitary sewer bonds, principal and interest, and all other deferred charges and statutory expenses as may be required.