§ 3-93. Transfer of property and obligations.

Latest version.

A.
Subject to the rights, if any, of the holders of any bonds or other obligations of the Mount Holly Sewerage Authority heretofore issued, the Mount Holly Municipal Utilities Authority shall be the successor in all respects to the Mount Holly Sewerage Authority, and shall forthwith succeed to all of the rights, property, assets and franchises of the Mount Holly Sewerage Authority.

B.
The bonds or other obligations of the Mount Holly Sewerage Authority shall be assumed by, and shall become the obligations of, the Mount Holly Municipal Utilities Authority.

C.
The property of the Mount Holly Sewerage Authority shall be vested in the Mount Holly Municipal Utilities Authority.

                    
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