Each water purveyor shall dedicate adequate funds on an annual basis to address and remediate the highest priority projects as determined by its asset management plan.
All asset management plans and system condition reports shall be certified to by the licensed operator or professional engineer of the public community water system and the responsible corporate officer of the public community water system, if privately held, executive director, if an authority, or mayor or chief executive officer of the municipality, if municipally owned, as applicable. The replacement cycle shall be determined by dividing the miles of water main located in the public community water system by 150 or other appropriate demonstration set forth in the certified asset management plan prepared pursuant to this section.
N.J.S. § 58:31-7