New Jersey Acts Saved from Repeal ACTS SAVED 40 § 141-1(16)

16. That such portion of the moneys received from the water rents or prices paid for the use of water, and interest on arrears of water rents, as may remain after paying all expenses for constructing and maintaining the works and raising and distributing the water, and salaries, wages and incidental expenses and charges, shall be applied first to the payment of the interest upon the debt created for the construction of the works, and next to the purchase of the bonds issued therefor, if the same can be obtained at reasonable rates, or, if that cannot be effected, then to be safely invested by commissioners of the sinking fund of the said town, if any there be, and if none, then by the said governing body, and allowed to remain as a sinking fund, to be applied to the payment of the bonds at maturity.