(1) A borough incorporated or acting under any local or special act may surrender the provisions of its special and local acts in their entirety or as they are inconsistent with this part and be governed by this part by presenting a petition to the court of common pleas of the county setting forth the desire of the borough to accept the provisions of this part.

(2) The petition under paragraph (1) shall indicate whether it is the desire of the borough to surrender all of its special and local acts or to retain its special and local acts that are not inconsistent with this part.

(3) If the petition indicates a desire to retain local or special acts, it shall indicate the local or special acts to be retained. The petition shall be made by the council or by at least 10% of the registered electors of the borough as of the date the petition is filed.

(1) Upon the presentation of a petition under subsection (a), the court shall set and provide notice of a hearing date. An inhabitant of the borough may remonstrate against the granting of the petition at the hearing.

(2) If the court grants the petition, the decree of the court shall be recorded in the office for the recording of deeds, and the borough shall be subject to this part and any local or special acts retained as set forth in the petition. On and after the date of the decree, any local or special act applicable to the borough shall no longer apply to the borough if it is inconsistent with this part or has been surrendered.

(1) Liabilities incurred.

(2) Rights accrued or vested.

(3) Obligations issued or contracted.

(4) Suits and prosecutions pending or to be instituted to enforce any right or penalty accrued or to punish any offense committed prior to the acceptance.

(5) Ordinances.