§ 17-1726 — Obligations and property

§ 17-1726 Obligations and property. The outstanding obligations,\ncontracts, and bonds of any such town or of any district therein,\nincurred, made or issued for the purpose of improving the highways\nthereof, or constructing overhead or undergrade crossings, or\nconstructing sidewalks or for sewers or sewer district purposes, or for\nwater or water district purposes, or for fire district purposes,\nincluding all obligations now outstanding or hereafter imposed upon any\nsuch town or district therein, shall devolve upon and be assumed by any\nsuch village, and the board of trustees of any such village, is hereby\nauthorized and empowered, and it shall be its duty, to provide for the\npayment and discharge of such obligations, contracts and bonds by\ntaxation or assessment of taxes in the same manner as the board of\nsupervisors or county legislative body, town board, or supervisor or\nofficers of such town, or of any district therein are or may be\nauthorized to provide therefor or by taxation of all the taxable\nproperty in such village in any case in which by virtue of any provision\nof this act or of any other statute such obligations, contracts or bonds\nare or may be made a general village charge. All moneys, credits and\nproperty of the said town, including all public moneys payable to the\nsaid town, or to its supervisor, for general town purposes under any\npresent or future law, shall be paid to any such village for the general\npurposes of such village, and all the moneys, credits and property of\nany sewer district, water district, fire district, or other tax district\nnow existing or hereafter established therein, including all moneys\npayable under any present or future law to any such town or to its\nsupervisor for specified town or district purposes, shall be paid and\ndelivered to such village by the several custodians thereof and applied\nby the board of trustees of such village to the said purposes. In any\nsuch village the treasurer thereof shall serve as the fiscal officer of\nany such town, and the receiver, collector or custodian of any taxes or\nother moneys payable to the supervisor of any such town under any\npresent or future law, shall pay the same to the village treasurer who\nshall apply the same under the direction of the town board, or of the\nsupervisor, or otherwise, to the lawful purposes for which the same\nshall have been raised. In every such village all taxes and assessments\nlevied or assessed before incorporation upon the taxable property in the\nsaid town or upon the taxable property in any water district, fire\ndistrict, lighting district, or sewer district therein for town or\ndistrict purposes shall, when collected, be paid over to such village\nand used by such village for the purposes for which the same were levied\nand assessed.\n