The governmental and corporate functions now vested in the City of Lexington, a municipal corporation of the second class operating under the Constitution and Laws of the Commonwealth of Kentucky, are hereby merged with the governmental and corporate functions of the County of Fayette, operating under the Constitution and Laws of the Commonwealth of Kentucky. Said merger creates a single government which replaces and supersedes the governments of the City of Lexington and Fayette County. The name of the new government shall be the Lexington-Fayette Urban County Government, hereinafter sometimes referred to as the "Merged Government," or the "Urban County Government."