The legislative power of the City under this Charter, together with all such powers conferred upon municipalities by the Constitution and laws of the State of Ohio, shall be vested in the Council. Council shall be comprised of five (5) members: One (1) Council President, elected by the municipality at large and four (4) Ward Councilmen, one (1) to be elected from each of the four (4) wards as now established in the City. The elected position of Council Vice- President and Councilman-at-Large shall be abolished as of the completion of the term expiring December 31, 1987.
   The term of each of the five members of Council shall be two (2) years, beginning December 1 next following his election, and he shall hold office until his successor is elected and qualified.
   The Council shall have an organizational meeting within the first three (3) days of January next following their election. The Council President shall call this meeting and perform his duties as presiding officer.
   The elective office of President of Council, as now provided for under statutory form of government, shall be abolished upon completion of the term expiring December 31, 1971.