The Council shall declare vacant the seat of any elected official who shall cease to be a resident of Municipality. Council may also declare vacant the seat of any elected official who persistently fails to abide by the rules of the Council or who is otherwise guilty of misconduct affecting performance of his or her duties. Declaring a vacancy shall be taken only upon the concurrence of five members of Council at a regular meeting of Council after service of notice upon such of such proposed action at least seventy-two hours in advance of such meeting. Council shall provide an opportunity to any elected official subject to removal to present a public defense at the meeting of Council.