(A) It is hereby found, determined and declared necessary for the best interests of the city that the waterworks system of the city and the sewerage system of the city be combined into a single utility to be known and designated as the combined waterworks and sewerage system of the city.
(B) All property, real, personal and mixed, comprising the waterworks system of the city and the sewerage system of the city, is hereby found, determined and declared to constitute the property of the combined waterworks and sewerage system.
(C) The waterworks and sewerage system shall be owned and operated by the city as a combined utility, and all improvements and extensions to the waterworks system or the sewerage system shall be considered as improvements and extensions to the combined utility. All the properties, assets, obligations and liabilities of the waterworks system and of the 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. passed 7-18-1956)