The District created hereunder shall supersede and substitute the presently existing Champlain Water District. The District shall, initially, have as its officers and commissioners, the officers and commissioners of the present Champlain Water District. The District shall succeed to the title of all properties, and shall assume all assets and liabilities of the present Champlain Water District. This chapter shall be deemed to ratify any and all previous actions taken by the existing Champlain Water District. (Added 1971, No. 135, § 4.)