The Municipality now existing in the County of Lake, State of Ohio, and known as Wickliffe shall continue to be a body politic and corporate under the name of the City of Wickliffe, with the same boundaries as now exist, but with power and authority to change its boundaries in the manner authorized by the laws of the State of Ohio, except that no territory shall be detached from or annexed to the City, nor shall the City be annexed to or merged with any other body politic, nor shall the corporate existence of the City be terminated, without the assent of a majority of the electors of the City voting on such proposal, or the assent of the Council given in such manner as to be subject to review by a vote of the electors of the City.