If a majority of the qualified electors in each of the counties affected voting on the question shall favor transferring the territory, such territory, on the first day of March succeeding the election, shall become a part of the county to which the transfer was proposed to be made. The assessment and collection of taxes and judicial and other official proceedings commenced prior to such first day of March shall be continued, prosecuted, and completed in the same manner as if no transfer had been made. All township officers within the transferred territory shall continue to hold their offices within the county to which such territory is transferred until their terms of office expire.