Section 64.27 - Law applicable; existing ordinances, etc.; territorial limits; vested rights; liabilities(1) Any law applicable to any city before its reorganization and not inconsistent with the provisions of ss. 64.25 to 64.40, shall apply to and govern such reorganized city.(2) Any bylaw, ordinance or resolution lawfully passed and in force in any such city at the time of its reorganization shall remain in force until altered or repealed by the council elected under the provisions of ss. 64.25 to 64.40.(3) The territorial limits of such city shall remain the same as under its former organization.(4) All rights and property of every description which were vested in such city under its former organization shall remain the same under the reorganization herein contemplated.(5) No right or liability either in favor of or against such reorganized city, and no suit or prosecution of any kind, shall be affected by such change of government unless otherwise provided in ss. 64.25 to 64.40.