(A) It is found, determined and declared necessary for the best interest of the city that the waterworks system of the city and the sanitary 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 and the sanitary sewerage system are found, determined and declared to constitute the properties of the combined waterworks and sewerage system.
(C) From and after the effective date of the ordinance codified in this section (Ordinance 171, passed March 16, 1960), the waterworks system and the 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 either the waterworks or sewerage system shall be considered as improvements and extensions to the combined utility. All properties, assets, obligations and liabilities of all kinds of the waterworks system and of the sanitary sewerage system, existing, outstanding and accruing or to accrue, shall be held, used, confessed and acknowledged as properties, assets, obligations and liabilities of the combined utility.
(2000 Code, § 13.08.030)