§ 120-r. Cancellation of sewerage contracts for neglect. In the event
of such person, persons or corporation failing and neglecting to keep
said system of sewage in a good healthy and effective condition after
due notice in writing of not less than sixty days, from any municipality
using the same, their rights, of such person, persons or corporation,
guaranteed under such contract may be canceled by such municipality,
except that such municipality or municipalities shall pay the fair and
reasonable value of such sewerage system as provided in such lease or
contract. This section shall not apply if such system is under the
management and control of one or more of such contracting
municipalities.