(A) As set forth in 65 ILCS 5/3.1-15-5, the President shall be elected by the electors of the village at a general village election held therein.
(B) As set forth in 65 ILCS 5/3.1-15-10, the President shall hold his or her office for a term of four years and until his or her successor is elected and has qualified. The four-year term for President may be changed to two years pursuant to 65 ILCS 5/3.1-10-65.
(C) Whenever a vacancy in the office of President occurs during his or her term, the vacancy shall be filled for the remainder of the term in the manner provided in 65 ILCS 5/3.1-10-50 and 3.1-10-55. During the period from the time that the vacancy occurs until a President is elected, and has qualified, the vacancy may be filled by the appointment of an Acting President by the Board of Trustees.