If this Charter is adopted at the election thereon, the terms of office of the City Clerk, City Treasurer, and City Assessor under the former Charter of the City, shall terminate on January 2, 1956, at 12:00 noon. The persons holding these offices under the former Charter of the City shall thereupon qualify for and assume the offices of Clerk, Treasurer, and Assessor, respectively, under this Charter and shall hold such offices on the same basis as though they had been appointed thereto in the manner provided in this Charter. All other administrative officers and employees of the City shall continue in the respective offices and employment held by them at the time this Charter becomes effective, and shall be subject to the provisions thereof.