From and after the effective date of this subchapter, the existing waterworks system and sanitary sewerage system shall be owned and operated by this village as a combined utility known as the Combined Waterworks and Sewerage System. All improvements and extensions to the waterworks or sewerage system, either or both, shall be considered as improvements and extensions to the combined utility and all the 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 the properties, assets, obligations, and liabilities of the combined utility.
(Ord. 339, passed 4-5-72)