The said councils shall have the power to make an adjustment of the indebtedness of any district or portion of said city, assumed by it, either before or after its consolidation with such city, for the cost of improving streets therein, and in making such adjustment shall determine what portion of said street indebtedness shall be paid by the subordinate district, and what portion by the city at large; and for any portion charged to the city, the said councils shall have full power to make provision for the payment of the interest and principal thereof.
53 P.S. § 24397