The inhabitants of the City of Bangor shall continue to be a municipal corporation under the name of the City of Bangor, and shall have, exercise and enjoy all rights, immunities, powers, privileges and franchises and shall be subject to all the duties, liabilities and obligations provided for herein, or otherwise pertaining to or incumbent upon said city as a municipal corporation, or pertaining to or incumbent upon the inhabitants or officers thereof; and may enact bylaws, ordinances and regulations for municipal purposes, not inconsistent with the constitution and laws of the State of Maine, and impose penalties for the breach thereof.