SECTION 40. EFFECTIVE DATE OF CHARTER.
   For the purposes of extending the terms of office of present elective officers, of the election of new officers under this Charter, and the operation of all other provisions of Section 41 hereof, this Charter shall be in effect from and after the date of its adoption by the voters of the City. For all other purposes it shall be in effect on and after the first day of July next following the first election held under its provisions.