Said village so organized shall from the time of the first election held by it under an “Act to Provide for the Incorporation of Cities and Villages in force July 1, 1872,” as amended, be considered, in law and equity, a body corporate and politic by the name and style of the village; and by such name and style, may sue and be sued; contract and be contracted with, acquire, and hold real and personal property necessary for corporate purposes, and adopt a common seal and alter the same at pleasure.
(Ord. 3, passed 1-5-1891)