A. It is hereby found, determined and declared necessary for the best interests of the city that the existing waterworks supply and distribution system of the city and the proposed sanitary sewerage system to be acquired, in the preambles of the ordinance codified herein more fully described, be combined into a single utility to be known and designated as the "combined waterworks and sewerage system of the city".
B. All properties, real, personal, and mixed, comprising the now existing waterworks supply and distribution system and proposed sanitary sewerage system, as in the preambles of the ordinance codified herein more fully described, are hereby found, determined and declared to constitute the properties of the combined waterworks and sewerage system of the city.
C. From and after the effective date hereof, the existing waterworks supply and distribution system and said proposed sanitary sewerage system shall be owned and operated by the city as a combined utility known as the "combined waterworks and sewerage system of the city", and all improvements and extensions to said waterworks and sewerage system, either or both, shall be considered as improvements and extensions to said combined utility; and all the properties, assets, obligations and liabilities of all kinds of said waterworks supply and distribution system and of said proposed sanitary sewerage system existing, outstanding and accruing or to accrue shall be held, used, confessed and acknowledged as the properties, assets, obligations and liabilities of the combined utility. (Ord. O-2-73, 2-6-1973)