All ordinances and resolutions of the City of Garden City, and all orders, rules and regulations made by any official or agency of the city, not inconsistent with this Charter, shall remain in effect until changed by action taken under this Charter. The provisions of Act 78, Public Acts of 1935, as adopted by the City of Garden City, and the provisions of Act 379, Public Acts of 1965, shall remain in effect until changed in a manner provided by law. The city shall be vested with all property, moneys, credits, contracts, records, files, books, and papers belonging to it under its previous Charter. No right or liability contract, lease, or franchise, either in favor of or against the city, and no suit or prosecution of any character, shall be affected in any manner by any change resulting from the adoption of this Charter. All debts and liabilities of the city shall continue to be its debts and liabilities, and all debts owing to it, and fines, penalties, interest, or fees, imposed and existing at the time of such change, shall be collected by the city. Until the new City Council and City Manager herein authorized have exercised their powers with respect thereto, all appointed officials and employees of the city shall continue to have the same duties, rights, powers, and compensation as existed prior to the effective date of this Charter.