The municipal corporation existing as the Village of Canal Winchester under the general statutes of the State of Ohio shall continue to be a body politic and corporate and shall be named the City of Canal Winchester. The City of Canal Winchester shall have the same boundaries that exist on the effective date of this Charter, with power and authority to change its boundaries and annex territory in the manner authorized by the laws of Ohio. As used in this Charter, "Canal Winchester" shall mean the City of Canal Winchester.