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The said corporation, the City of Phoenix:

a. Shall own, possess, control, exercise and enjoy all of the books, records, documents, and all of the property, real, personal and mixed, and all of the rights, privileges and franchises, powers and immunities now belonging to, possessed or exercised by the municipal corporation known as "The Common Council of the City of Phoenix."

b. It shall be subject to and liable for all the legal debts, liabilities, judgements, bonds, and all other legal obligations for which the said corporation, "The Common Council of the City of Phoenix," is now or may hereafter become legally bound.

c. It may sue and be sued, plead and be impleaded, in all courts of law or equity, in all actions and proceedings whatsoever; adopt a seal and may alter the same; contract and be contracted with; lease, trade, exchange or acquire and hold real, personal or mixed property for the purpose for which it was incorporated, and do all acts which might be done by a private person, and all such acts and things necessary or proper for a municipal corporation to do to carry out the purpose for which it is incorporated.

(Election of 11-9-1971)