12-2703.   Acquisition, development and distribution of common watersupply.A common supply of water may be acquired and developed (including, butnot by way of limitation, the acquisition or construction of all necessarysites, rights of way, easements, other interests in real property, andfacilities necessary for the acquisition or distribution of water in bulk)by all of the contracting municipalities and corporations acting jointly orby the individual action of one of the municipalities acting for all of thecontracting municipalities and corporations, as such municipalities andcorporations may provide by contract. Regardless of the method agreed upon,title to all real or personal property acquired or constructed shall beheld jointly in the names of all of the contracting municipalities andcorporations in such proportions as shall be provided by contract, andsubject to such provisions for disposition as may be provided by contract.

      History:   L. 1955, ch. 87, § 3; April 14.