This Charter shall be submitted to the electors at the special election of October 25, 1988. If approved, it shall become effective on January 1, 1989. All elected officials shall hold office until the expiration of their terms, when the next elected officials shall serve as indicated in the separate sections of this Charter. All other employees of the Municipality as of the effective date of this Charter shall continue in such employment; and thereafter, shall be subject in all respects to the provisions of this Charter, and ordinances, resolutions, rules, or regulations enacted or promulgated thereunder.