Said corporation shall have power to purchase from the Barton Landing Water Company their franchise, property, and privileges upon such terms as may be agreed upon; and all contracts hitherto made by said Orleans Village corporation with said Barton Landing Water Company, are hereby confirmed. Said Orleans Village corporation may issue their corporation bonds to said water company for the purchase of said franchise, property, and privileges, and may make the same negotiable, and may secure said bonds by mortgage or otherwise. It is hereby enacted that upon the completion of said purchase of said water company, that all enactments and laws then in force, relating to said Barton Landing Water Company, shall inure to the Orleans Village corporation, and remain operative and valid and all actions, suits, and recoveries thereon, may be had in the name of said corporation. (Added 1892, No. 114, § 38; 1908, No. 256, § 1.)