A New Jersey waterpark made infamous in the 80s for outrageous rides, accidents and raucous staff is bringing back a modern version of its legendary slide.

Action Park, which took on its former name in April 2014 after operating as Mountain Creek Ski Resort in Vernon, will be the first waterpark to debut SkyCalibre, according to the LA Times.

It's an ironic twist of fate for the attraction that once featured a vertical looping slide for a week before shutting it down as a liability.

Watch this rare footage compiled by Adam Ringler, the former director of operations at Action Park who shared the video clips with documentary film maker Seth Porges. The Cannonball Loop can be seen in all its glory around the 8:15 mark.

Of course, the design by Skyturtle Technologies, the Vancouver, B.C.-based firm that developed SkyCalibre, promises to be much more sophisticated and safer than its counterpart.

Currently, the company is operating a 90-foot prototype in Missouri. But the firm anticipates opening the first official slide at Action Park in 2016.

This is the most exciting news to hit the waterpark world since Schlitterbahn introduced its Guinness Book of World Record attraction last year. Read More