The Village Manager shall be appointed by the President, by and with the advice and consent of the Board, for an indefinite term.He shall be chosen solely on the basis of his executive and administrative qualifications with special reference to his actual experience in, or his knowledge of, accepted practice in respect to the duties of his office hereinafter set forth. At the time of his appointment he need not be a resident of the Village or the State, but during his tenure of office he shall reside within the Village. (M.C. 1963, § 5.102)