As title indicates, revises the City of Mebane's charter and consolidates certain local acts related to City incorporation and powers; composition and election of the City's governing body, which consists of a mayor and five-member city council; finance and taxation; street and sidewalk improvements; water and sewer improvements; regulatory powers; and claims against the City. Makes conforming repeals of specified session laws. Provides that the act does not affect any rights or interests that arose under any provisions repealed by this act. Continues in effect all existing ordinances, resolutions, and other provisions of the City that are not inconsistent with the provisions of this act, until they are repealed or amended. Provides that no action or proceeding pending on the effective date of this act by or against the City or any of its departments or agencies is abated or otherwise affected by this act. Sets out a severability clause.