Sec. 16. (a) After a merger under this chapter takes effect, the new municipality:
(1) has all the rights, powers, privileges, immunities, and obligations of the merging municipalities;
(2) is liable for all the debts, contracts, and liabilities of the merging municipalities;
(3) is entitled to all the rights, credits, monies, and properties of the merging municipalities; and
(4) may, in the name adopted in the merger, sue and be sued in relation to the debts, contracts, liabilities, rights, credits, monies, and properties of the merging municipality.
(b) After a merger under this chapter takes effect, pending actions that involve municipalities taking part in the merger shall be prosecuted to final judgment and execution, and judgments rendered in those actions may be executed and enforced against the new municipality without any change of the name of the plaintiff or defendant.