N.J. Stat. § 48:6-22
Whenever the governing body of a municipality in which a canal feeder or part thereof is located, and the board of directors of the company owning or operating the feeder, shall respectively by resolution declare that the further maintenance of the feeder or part thereof in a condition suitable for navigation is unnecessary, they may from time to time contract with each other for the erection and maintenance of bridges or viaducts for the passing of streets over the feeder and also for the use for any public purpose of such portion of the towpath or other real estate as is no longer necessary for the purposes of the feeder.
Upon filing in the office of the secretary of state of copies of such resolutions duly attested, any obligation previously existing on the part of the canal company to maintain such feeder or part thereof in a navigable condition shall be at an end and the navigation of the feeder shall be abandoned.
The title of the company to such feeder, its towpath and other real estate and appurtenances, and its right to use the same for other purposes than navigation shall not be thereby affected.
N.J.S. § 48:6-22