The Council, Board of Trustees of Public Affairs, and Planning Commission shall continue in office until the Council, provided for under this Charter, shall have organized, at which time said Council, Board, and Commission shall be deemed abolished, and all other persons holding office at the time this Charter is adopted shall continue in office and in the performance of their duties until provision shall have been 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 shall expire and the office shall be deemed abolished. The powers which are conferred and the duties which are imposed upon any officer or agency of the Village under the Constitution or laws of the State, or under any Village ordinance or contract in force at the time of the taking effect of this Charter, shall be thereafter exercised and discharged by the Council, officer or agency upon whom are imposed corresponding functions, powers and duties by the Charter or by any ordinance of the Village hereafter enacted.