That any and all contracts, agreements, assets, liabilities, or other obligations,
or other actions, or causes of actions incurred by The Industrial Development Authority
of the Town of Salem, Virginia, or to which said authority has or will become entitled,
are hereby transferred to and vested in The Industrial Development Authority of the
City of Salem, Virginia, and the directors and officers of the said The Industrial
Development Authority of the Town of Salem, Virginia, shall continue to exercise the
same duties as like directors and officers of The Industrial Development Authority
of the City of Salem, Virginia.
