After this Charter takes effect local improvements commenced prior thereto shall be completed and assessments may be levied and securities issued for the financing thereof as prescribed by the law (or Charter provisions) applicable thereto. The Council may prepare and adopt a comprehensive ordinance prescribing the procedure which shall be followed thereafter in making all local improvements and levying assessments therefor. The Council may elect to use State law or the local improvement ordinance for the purpose of providing local improvements and assessments thereof.