The Mayor shall be elected by the popular vote of the electors of the municipality for a two (2) year term beginning on the first day of December next following his election.
   The Mayor shall be an elector of the municipality and shall have been, immediately prior to the date of filing his declaration of candidacy, a continuous resident of the municipality for two (2) years. During his term of office he shall continue to be a resident and qualified elector. He shall not conduct any business with the City or hold any other public elective office or any other position within the Municipal Government. If the Mayor shall cease to possess any of the qualifications for such office, he shall forthwith forfeit his office.