(1) Bonded indebtedness and a pledge of full faith and credit or limited full faith and credit by a former township consolidated as provided in section 16b and 16c continue as obligations of the consolidated township and of the taxable territory of the former township that contracted the indebtedness or made the pledge. A special assessment district of a former township continues in full force and effect as a special assessment district of the consolidated township.

    (2) The millage levy for a township consolidated as provided in section 16b and 16c may be billed and becomes a lien on December 1 following the effective date of the consolidation.