Each candidate for election to Council, or any person appointed to fill a vacancy on Council, shall have been for at least five consecutive years immediately prior to his or her election or appointment, and during his or her term of office shall continue to be, a resident of the City and a qualified elector thereof. He or she shall not hold any other public, compensated elective office; and he or she shall not hold any other public position over which Council has control within the Municipality. He or she shall not be interested in the profits or emoluments of any contract job, work, or service with or for the City.