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lands, buildings, sewers, filtration and treatment plants, tanks, | | standpipes, mains, pumps, pipes, machinery, fixtures, services, | | tools, flush tanks, manholes, catch basins, pumping stations and | | other equipment, appliances and property used or usable for | | collecting, holding, purifying and disposing of sewage matter and | | waste waters for domestic, sanitary, commercial, industrial and | | municipal purposes in consideration of the assumption by the Town | | of St. Agatha of all of the outstanding debts, obligations and | | liabilities of the St. Agatha Sanitary District, including, without | | limitation, the assumption of any outstanding notes or bonds of the | | St. Agatha Sanitary District that are due on or after the date of | | transfer. |
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| | | Sec. 3. Contracts of St. Agatha Sanitary District. All contracts between the | | St. Agatha Sanitary District and any person, firm or corporation | | relating to supplying sewer service that are in effect on the | | date of the transfer by the district to the Town of St. Agatha | | are assumed and carried out by the town. |
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| | | Sec. 4. Dissolution and termination of St. Agatha Sanitary District; pledge of revenues. | | If all debts, obligations and other liabilities of the St. Agatha | | Sanitary District are paid in full and discharged or the holders | | or owners of all debts, obligations and other liabilities that | | have not been paid in full and discharged have assented to the | | assumption of the debts, obligations and other liabilities by the | | Town of St. Agatha and to the notation and substitution of the | | town as obligator in place of the St. Agatha Sanitary District, | | when the transfer of properties pursuant to sections 1 and 2 is | | complete, the clerk of the St. Agatha Sanitary District shall | | file a certificate to that effect with the Secretary of State and | | the corporate existence of the St. Agatha Sanitary District | | terminates. Upon acceptance of this Act by the Town of St. | | Agatha pursuant to section 6, the town is authorized to issue its | | notes or bonds in the form of either a general obligation pledge | | or a revenue pledge, as the municipal officers may determine, or | | to deliver other instruments evidencing its assumption of the | | debts, obligations and other liabilities of the St. Agatha | | Sanitary District without the need for any further action or | | approval. |
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| | | Until the corporate existence of the St. Agatha Sanitary | | District is terminated pursuant to this section, the gross | | revenues derived by the Town of St. Agatha from the sale of sewer | | service within the area comprising the limits of the district | | must be applied first to the payment of expenses and 2nd to | | payments of debts, obligations and other liabilities of the St. | | Agatha Sanitary District assumed by the town pursuant to this | | Act. |
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| | | Sec. 5. Existing laws not affected; rights conferred subject to provisions of law. | | Nothing in this Act is intended to repeal or may be |
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