40A:4-62 - Public utility funds - New Jersey Statutes

40A:4-62.  Public utility funds    All moneys derived from the operation of publicly owned or operated utility  or enterprise and any other moneys applicable to its support, shall be  segregated by the local unit and kept in a separate fund which shall be known  as  "utility fund"  and shall bear a further designation identifying the  utility or enterprise and, except as provided in section 40A:4-35, shall be  applied only to the payment of the operating and upkeep costs, and the interest  and debt redemption charges upon the indebtedness incurred for the creation of  such utility or enterprise.

     L.1960, c. 169, s. 1, eff. Jan. 1, 1962.