Be it further enacted, that the right, title, and ownership of all property of said City of Crossville as created and existing under and by Chapter 362 of the Acts of Tennessee for the year 1901, and acts amendatory thereto, and all its uncollected taxes, assessments, dues, fines, costs, claims, judgments, choses in action, and all its rights of every kind and character whatsoever shall immediately become and are hereby vested in the municipal corporation created by this Act, City of Crossville, and said new corporation be, and hereby is burdened and charged with and made liable for all legal debts, contracts, bonds, and obligations of the old corporation, City of Crossville, which it succeeds, in the same manner and form and to the same extent as the said prior municipal corporation was under existing laws. (As amended by Priv. Acts 2014, ch. 55, sec. 1)