Section 14.9  Continuation of Contracts and Trusts. 
No right or liability or franchise or contract existing at the time this Charter became effective, and no suit or prosecution of any character by or against the Village of Lake Angelus, shall be affected in any manner by any change resulting from the incorporation of the City of Lake Angelus, but the same shall stand or proceed as if no change had been made and shall run to or against the City, as the case may be, as a successor municipality of the Village of Lake Angelus. All trusts established for any municipal purposes of the Village of Lake Angelus shall be continued as trusts for the City of Lake Angelus in accordance with the terms thereof, subject to the cy pres doctrine.