(A) It is hereby found, determined, and declared necessary for the best interest of this village that the existing waterworks distribution system of said village and the existing sanitary sewerage collection system of said village be combined into a single utility to be known and designated as the combined waterworks and sewerage system of the village.
(B) All property, real, personal, and mixed, comprising the now existing waterworks distribution system and sanitary sewerage collection system as hereinabove in the preamble of this section more fully described, be, and the same is, hereby found, determined, and declared to constitute the properties of the combined waterworks and sewerage system of said village.
(C) From and after the effective date of this section said existing waterworks distribution system and said sanitary sewerage collection system shall be owned and operated by this village as a combined utility, known as the combined waterworks and sewerage system of said village, and all improvements and extensions to said waterworks and sewerage system, either or both, shall be considered as improvements and extensions to said combined utility; and all the properties, assets, obligations, and liabilities of all kinds of said waterworks distribution system and of said sanitary sewerage collection system, existing, outstanding, and accruing or to accrue, shall be held, used, confessed, and acknowledged as the properties, assets, obligations, and liabilities of said combined utility.
(Ord. 341, passed 8-18-1966)