Section 88
SEC. 88. Change of Government.-The City Governing provided for in this Charter shall be organized upon approval of this Act, All assets and liabilities of existing municipality of Cagayan, Province of Misamis Oriental, shall pass to the new city upon its organization. Pending the next general elections for provincial municipal officials, the incumbent mayor, vice-mayor members of the Municipal Council of the of Cagayan, shall ipso facto become the Mayor, Vice-Mayor, and Members of the Municipal Board of the City of Cagayan de Oro.