Instruction Over Ride

I inherited an application that has code similar to:

set conn = server.CreateObject("ADODB.Connection")
set New_app = server.CreateObject("ADODB.Recordset")
set New_app = conn.Execute("SELECT * FROM TableName WHERE Blah = '"&
blah & "'")

The code executes a "set New_app" instruction TWO TIMES. Doesn't the
second "set New_app" instruction override the first "set New_app"
instruction?

And is it correct that the
set New_app = server.CreateObject("ADODB.Recordset")
instruction is totally unnecessary anyway?