§ 4. Existing obligations not impaired.

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That no obligation or contract of the said Town of Starke, including bonds heretofore issued or any proceedings heretofore begun for any improvement, or for the borrowing of money or issuing bonds, shall be impaired or avoided by this Charter, but such debts, obligations, contracts and bonds shall pass to and be binding upon the new municipality hereby created and organized and all such proceedings heretofore begun for the construction of any improvements or for the borrowing of money or issuing of bonds may be continued and completed and binding upon the said new municipality. Except that such proceedings are hereby nullified as far as they are in conflict with the terms of this Charter.

(Laws of Fla. ch. 13426(1927), § 4)

                    
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