Effective as of midnight at the end of December 31, 1998, the Village of Richford, as constituted by Act No. 202 of the Laws of 1878, as amended, shall merge with and into the Town of Richford, within its present geographic limits, as a single municipal corporation under the name of the Town of Richford, and the Village of Richford shall, except as hereinafter specifically provided, cease to exist as a political entity or body corporate and its charter shall be abolished. (Added 1997, No. M-11 (Adj. Sess.), § 2, eff. Jan. 1, 1999.)