The municipality shall continue to own, possess, exercise and/or
control all rights and property of every kind and nature owned, possessed,
exercised and/or controlled by it when this Charter takes effect,
and shall be subject to all debts, obligations, liabilities, rights
and duties.
The elected municipal officers holding office at the time this
Charter becomes effective shall remain in office for the full terms
for which they were elected. However, after the first Monday in January
1978, they shall have the powers and duties only as set forth in and
in pursuance of this Charter. Should the office of any incumbent elected
municipal officer whose term expires January 1, 1980, become vacant
for any reason prior to January 1980, that office shall be abolished.
Nothing in this Charter shall affect or impair any right or
privilege possessed by or vested in any person who shall be a municipal
employee at the time of adoption of this Charter, and the adoption
of this Charter shall in no way diminish or remove any such rights
and privileges.
Members of authorities, boards and commissions in office at
the time when this Charter takes effect shall remain in office for
as long as their respective terms of appointment shall continue, unless
and until an authority, board or commission shall be abolished, combined
with another agency, or reconstituted, in which case, the members
thereof shall vacate their respective offices upon notice from Council
to do so.