(a) Establishment.--If a borough owns and maintains a water system, there may be established in the borough, by ordinance, a commission of the water system, which shall have the power of a nonprofit corporation, to be composed of either three or five citizens of the borough appointed by the council, who shall be known as commissioners of the water system.
(b) Abolishment.--At any time after three years from the first appointment of the commissioners of the water system, the borough may abolish the commission by repealing the ordinance establishing the commission, which shall terminate the terms of the commissioners then in office.
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