(1) Two (2) or more contiguous municipalities located in the same county may merge into one (1) municipality using the procedures in this part.
(2) When municipalities are separated only by water, they shall be deemed contiguous for all purposes of this part if they are in the same county. After the municipalities merge, the water shall become a part of the consolidated municipality.
(3) The merger, when complete, shall result in the creation and establishment of a new municipality.
(4) Contiguous municipalities may be merged either as provided in § 6-51-403 or § 6-51-404.