Written notice by the Clerk of the election of any officer of the City and of the requirement of any official bond to be given by any such officer shall be given him within five (5) days after the canvass of the vote by which he was elected. Any elected officer shall be deemed refusing to serve and the office shall be deemed vacant if within ten (10) days from the date of notice, such officer shall not take, subscribe and file with the Clerk the oath of office, or shall not execute and file with the Clerk the required bond. However, the Council may for good cause extend the time in which such officer may qualify to serve.