The existing waterworks system and sewerage system shall be owned and operated by this village as a combined utility, known as the combined waterworks and sewerage system of the village, and all improvements and extensions to the waterworks or sewer 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 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. 2014-23, passed 6-16-14)