All persons, inhabitants of the City of Fort Worth, Tarrant County, Texas, according to the boundaries and limits of said city as hereinafter set out, and as the same may hereafter be extended by virtue of the provisions of this Charter, or by virtue of the laws of the State of Texas applicable to such matters, now or hereafter to be enacted by the legislature of the State of Texas, be and they are hereby created and organized as a municipal corporation and body politic, and as such subdivision of the State of Texas are incorporated and shall hereafter be known and designated as the City of Fort Worth, with such powers, rights, authority, duties, privileges and obligations as are hereinafter set out and prescribed.