New Corporate Successor To Former Corporations

TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 21 CONSOLIDATION OF CITIES 50-2109. New corporate successor to former corporations. Any city, created by the consolidation of two (2) or more cities under the provisions of section 50-2101 through 50-2114, shall for all purposes be deemed and taken to be the successor of the several corporations so consolidated therein; and the title to any property owned or held by any such corporations, in trust or otherwise for public use, shall, upon such consolidation being completed as hereinbefore provided, ipso facto be vested in such new corporation, or any officer of board thereof which has the power to hold or control such property under the law under which the greater or greatest in population of the cities so consolidated was theretofore governed. The governing body of such newly consolidated corporation shall provide for the payment of the indebtedness of each of the cities consolidated therein, and shall levy against the property obligated therefor at the time of the completion of such consolidation and collect the necessary taxes therefor and cause them to be paid to the persons entitled thereto, and for that purpose and for all other purposes, such new consolidated city and its officers shall be deemed the successor and successors of such cities so consolidated and their respective offices, and succeed to both the property and liabilities of such corporation, not otherwise provided for under sections 50-2101 through 50-2114 .