53 Pa. Stat. § 16256
All the right, title and interest of the several townships, districts and other municipal corporations mentioned in this act, of, in and to all the lands, tenements, hereditaments, bridges, ferries, railroads, wharves, market stalls, landings, landing-places, water-works, gas-works, buildings, easements and franchises, of, in and to all goods, chattels, moneys, effects, debts, dues, demands, amercements, fees, perquisites, rights, incomes, bonds, obligations, judgments, liens, actions and rights of action, books, accounts and vouchers, and of, in and to all other property and estates whatsoever and wheresoever, belonging to any or either of them, be and they are hereby vested in the city of Philadelphia, to take effect on the first organization of the city councils: Provided, That all the estates and incomes now held in trust by the county (present city) and each of the townships, districts and other municipal corporations united by this act, shall be held by the city of Philadelphia upon, and for the same uses, trusts, limitations, charities and conditions, as the same are now held by the said corporations respectively.
53 P.S. § 16256