SEC. 2. RIGHTS AND PROPERTY TO REMAIN VESTED WITH CITY; LIABILITIES UNIMPAIRED.
   The City of Alhambra shall remain vested with and continue to have, hold and enjoy all property; rights of property and rights of action of every nature and description now pertaining to this municipality; and is hereby declared to be the successor of the same. It shall be subject to all the liabilities that now exist against this municipality.