Nothing in this Charter shall be construed to affect in any manner whatsoever the legal status of the Fayette County School District, the Fayette County School Board or the Fayette County public school system. All legal, contractual and other relationships between said district, board or system and the County of Fayette and/or the City of Lexington on the effective date of this Charter shall be continued, subject to the provisions of Section 11.02 of this Charter. The Fayette County School Board may, however, redesignate the Fayette County School District as the Lexington-Fayette Urban County School District.