After adoption of this Charter, the City shall be vested with all the property, moneys, contracts, rights, credits, effects and records, files, books and papers belonging to the City of Perry and with any additional property and rights as herein prescribed. No right or liability, either in favor of or against the City of Perry, existing at the time this Charter becomes effective, and no suit or prosecution of any character, shall in any manner be affected by any change, but the same shall stand or proceed as if no change had been made. All debts and liabilities of the City shall continue to be debts and liabilities of the City, and all fines and penalties imposed at the time of such change shall be collected and all licenses issued by the City shall be and remain in the same manner. All acts done by the City Council and other officers pertaining to the raising of taxes, spreading of assessment rolls and appropriations shall be binding on the City of Perry and the taxpayers thereof.
The status or seniority of any employee of the City of Perry shall in no way be changed by reason of incorporation as a City.