The municipal corporation existing as the Village of Johnstown under the laws of the State of Ohio and this Charter adopted on November 4, 1997 shall continue to be a body politic and corporate under the same name under this Charter. The Village, hereafter referred to as the Municipality, shall have the same boundaries that exist on the adoption date of this Charter, with power and authority to change its boundaries and annex territory. Territory annexed to the Municipality shall immediately be subject to the provisions of this Charter.