All officers and members of boards and commissions of the Municipality holding office on December 31, 1961, or elected at the November 7, 1961, election for terms commencing January 1, 1962, shall continue in office, and in the performance of their duties until provision shall have been otherwise made in accordance with this Charter for the performance or discontinuance of the duties of any such office. When such provision shall have been made, the term of any such officer or member shall expire and his office be deemed abolished. The powers which are conferred and the duties which are imposed upon any officer, commission, board or department of the Municipality under the laws of the State, or under any ordinance or contract of the Municipality in force on December 31, 1961, shall, if such office, commission, board, or department is abolished by this Charter, be thereafter exercised and discharged by the officer, commission, board, or department upon whom are imposed corresponding functions, powers, and duties by this Charter or by any ordinance or resolution of the Council thereafter enacted.