17-309. Reorganization; existing ordinances; effect; debts; taxes.
Upon reorganization of a city of the second class as a village pursuant to section 17-306, all ordinances of the city shall remain and be in full force in the village until amended or repealed by the village board of trustees, and the village board of trustees shall provide for the payment of indebtedness of the city and levy necessary taxes for such indebtedness as if the indebtedness had been incurred by the village.
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