A. It is hereby found, determined and declared that all property, real, personal and mixed, comprising the waterworks system and sanitary sewerage system, constitute the properties of the combined waterworks and sewerage system of the village.
B. The waterworks system and the sanitary sewerage system shall be owned and operated in the village as a combined utility, known as the combined waterworks and sewerage system of the village, and all improvements and extensions to the waterworks and sewerage system, either or both, shall be considered as improvements and extensions to the combined utility; and all the properties, assets, obligations and liability, of all kinds, of said waterworks system and sanitary sewerage system, existing, outstanding and accruing or to accrue, shall be held, used and acknowledged as the properties, assets, obligations and liability of said combined utility. (Ord. 2009-O-28 § 3)