All officers of any city or village annexed or merged with a city of the metropolitan class as provided in sections 14-117 to 14-125, having books, papers, bonds, funds, effects, or property of any kind in their hands or under their control belonging to any such city or village shall, upon the taking effect of such consolidation, deliver such books, papers, bonds, funds, effects, or property to the respective officers of the city of the metropolitan class entitled or authorized to receive such books, papers, bonds, funds, effects, or property. Upon such annexation and merger taking effect, the terms and tenure of all offices and officers of any city or village so consolidated with the city of the metropolitan class shall terminate and entirely cease except as otherwise provided by law.