N.Y. General Municipal Law § 765: General effect of consolidation

§ 765. General effect of consolidation. 1. On and after the effective

date of a consolidation, the consolidating local government entities

shall be treated and considered for all purposes as one local government

entity, under the name and on the terms and conditions set forth in the

joint consolidation agreement or the elector initiated consolidation

plan, as the case may be.

2. All rights, privileges and franchises of each component local

government entity and all assets, real and personal property, books,

records, papers, seals and equipment, as well as other things in action,

belonging to each component local government entity shall be deemed as

transferred to and vested in the consolidated local government entity

without further act or deed.

3. All property, rights-of-way and other interests shall be as

effectually the property of the consolidated local government entity as

they were of the component local government entities prior to their

consolidation. The title to real estate, either by deed or otherwise,

under the laws of the state of New York vested in any of the component

local government entities shall not be deemed to revert or be in any way

impaired by reason of the consolidation.

4. The consolidated local government entity shall in all respects be

subject to all the obligations and liabilities imposed and shall possess

all the rights, powers, and privileges vested by law in other similar

entities.

5. Upon the effective date of the consolidation, the joint

consolidation agreement or the elector initiated consolidation plan, as

the case may be, shall be subordinate in all respects to the contract

rights of all holders of any securities or obligations of the local

government entities outstanding at the effective date of the

consolidation.

6. If a joint consolidation agreement or elector initiated

consolidation plan provides for the dissolution of a local justice

court, all court records of such court shall be deposited with a justice

court judge to be designated by the administrative judge of the judicial

district within which the dissolving justice court is located. The

designated justice court judge shall have authority to execute and

complete all unfinished business.