Section 5. All valid liabilities and debts of an abolished county which are in force immediately before the transfer date shall be obligations of the commonwealth as of the transfer date, except as may be otherwise provided in this chapter. All assets, including revenue received pursuant to chapter 64D and such other revenue said county receives as of immediately before the transfer date shall become assets and revenue of the commonwealth, except as otherwise provided in this chapter.

All valid liabilities and debts of the Suffolk and Berkshire counties’ registries of deeds which are in force immediately before July 1, 1999 shall be obligations of the commonwealth on July 1, 1999 except as may be otherwise provided in this chapter. All assets of said registries, including revenue received pursuant to paragraph (2) of section 12 of chapter 64D, and such other revenues received as of immediately before July 1, 1999, shall become assets and revenues of the commonwealth except as otherwise provided in this chapter.

The registries of deeds in Berkshire county shall, until the transfer date of Berkshire county pursuant to section 1, forward to the county commissioners in Berkshire county the deeds revenues that are necessary for the continued operation of Berkshire county government as certified by the county government finance review board; provided, however, that the secretary of administration and finance shall first certify that the commonwealth shall collect and retain sufficient revenue during fiscal year 2000 to fully fund the operations of said registries of deeds.