§ 114 — Costs

§ 114. Costs. The cost of providing a common supply of water may be\nfinanced either by the issuance and sale of the joint obligations of the\ncontracting municipalities or by individual issuance and sale of\nobligations to finance the proportionate share of each contracting\nmunicipality, as such shares shall be fixed pursuant to the contract. In\nthe event that the acquisition and development of a common water supply\nand the construction of a water works system shall be effected by the\nindividual action of one of the contracting municipalities, it shall be\nlawful for any of the other contracting municipalities to make a lump\nsum payment to such contracting municipality either from moneys on hand\nand available for such purpose or from moneys received from the issuance\nand sale of obligations. Nothing herein contained shall prevent the\npurchase or condemnation of existing sources of supply, water works\nsystems or portions thereof necessary for the purposes of the joint\nproject, provided, however, that there shall be no power to condemn\nproperty the legal title to which is vested in a public corporation,\ndistrict corporation or a special improvement district unless the owner\nshall consent thereto. In the event that any source of water supply,\nwater works system or portion thereof owned by one of the contracting\nmunicipalities is acquired for the purposes of the common supply and\njoint water works system, such municipality may be allowed a credit\nagainst its share of the cost equal to the agreed value of the assets so\nacquired.\n