Section 40:14B-20.3 - Use of municipal utilities authority funds for joint acquisition of land for recreation, conservation purposesa. A municipal utilities authority may expend any of its funds for the joint acquisition of land for recreation and conservation purposes with a municipality, notwithstanding the participation of any other public entity in the purchase, provided that the transaction does not violate any federal or State law and has a direct nexus to, and substantially furthers the core mission of, the municipal utilities authority.b. Nothing in this section shall interfere with or limit the oversight authority of any State agency over a municipal utilities authority.c. For the purposes of this section, "recreation and conservation purposes" means the use of lands for beaches, biological or ecological study, boating, camping, fishing, forests, greenways, hunting, natural areas, parks, playgrounds, protecting historic properties, water reserves, watershed protection, wildlife preserves, active sports, or a similar use for either public outdoor recreation or conservation of natural resources, or both. L. 2001, c. 283, s. 1, eff. 12/27/2001.