The City of Point Pleasant shall succeed to all the rights, powers and privileges of "The Town of Point Pleasant in Virginia," "The Town of Point Pleasant" and "The Town of North Point Pleasant," and all of the property and assets of the said towns shall be vested in and become the property and assets of the "City of Point Pleasant," and it shall be liable for all the debts and obligations of the said several towns, and subject to all the duties and responsibilities thereof.
And all the officers of "The Town of Point Pleasant" and "The Town of North Point Pleasant," acting as such at the time this Act takes effect shall continue in office until the first day of July, one thousand nine hundred and fifteen, perform the duties and receive the compensation heretofore conferred, prescribed and allowed by their former charters or by general law or by the ordinances of said Town; such ordinances of the Town of Point Pleasant as are in force on the thirtieth day of June, one thousand nine hundred and fifteen, shall continue and be in force as ordinances of the City of Point Pleasant, so far as they are not inconsistent with this Act, until amended or repealed by the Council of the City of Point Pleasant.