The receiver, upon qualifying, shall take possession of all the property, money, vouchers, records and books of the former municipality including those in any manner pertaining to its business and proceed to wind up its affairs. He or she shall have authority to pay: (1) All outstanding warrants and bonds in the order of their maturity with due regard to the fund on which they are properly a charge; (2) All lawful claims against the corporation which have been audited and allowed by the council; (3) All lawful claims which may be presented to him or her within the time limited by law for the presentation of such claims, but no claim shall be allowed or paid which is not presented within six months from the date of the disincorporation election; (4) All claims that by final adjudication may come to be established as lawful claims against the corporation. As between warrants, bonds and other claims, their priority shall be determined with regard to the fund on which they are properly a charge.
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