(a) Property.--When the borough government is formed, the property and assets of the city shall become the property of the borough, and the change of government shall not do any of the following:
(1) Affect any of the following:
(i) Liabilities incurred.
(ii) Rights accrued or vested.
(iii) Obligations issued or contracted.
(iv) Suits or prosecutions pending or instituted to enforce any right or penalty accrued.
(2) Punish any offense committed prior to the formation.
(b) Ordinances.--Ordinances of the former city shall continue in force in the new borough until altered or repealed.
(c) Wards and districts.--Wards and election districts of the city shall become the wards and election districts of the borough until altered or changed. In the election of members of council from the several wards, two members of council shall be elected from each ward, unless changed as provided by law.
(d) Office.--All constables and election officers in office in the city at the time the borough government is organized shall remain in office until the expiration of their respective terms of office.