The city university, for the purpose of administering the state civil service law, shall be deemed to be a municipal employer, provided, however, that the city university may elect to delegate the administration of any or all of the provisions of the civil service law, except article fourteen, to the department of personnel of the city of New York. In that event, the city department of personnel shall enter into a contract with such university for the rendition of such services. The city university of New York shall compensate the city of New York for such services only with respect to such services rendered for or on behalf of the senior colleges of such university. If the city of New York and city university cannot agree on the amount of such compensation, the state comptroller shall determine the fair and reasonable value of such services and the city university shall pay such sum to the city of New York. Any person on an eligible list for a position with the city university of New York in effect on the effective date of this article shall continue to hold such position on such list and shall be entitled to the same civil service rights. With respect to all persons employed by the city university on the effective date of this article, the city university and the city of New York shall be deemed to be the same public employer only for purposes of transfer of employment under the civil service law. No civil service right of an employee of the city university of New York employed on the effective date of this article shall be lost, impaired or affected by reason of the enactment of this article into law.