The residents of the city shall continue to be a body politic and corporate under the name of Manchester and shall have, exercise and enjoy all rights, immunities, powers and privileges and shall be subject to all duties and liabilities now incumbent upon them as a municipal corporation. All existing property of the city shall remain vested in it, and all existing debts and obligations of the city shall remain obligatory upon it after the adoption of this charter. All ordinances not inconsistent with the provisions of this charter shall continue to remain in full force and effect until amended or appealed.