Regular municipal elections shall be held on the Tuesday after the first Monday in November of each odd-numbered year which began in 1973. In the regular election in 1977, there shall be elected three (3) councilmen. The four (3) candidates receiving the highest number of votes shall be elected for terms of four (4) years. In the regular election in 1979, there shall be elected four (4) councilmen. The four (4) candidates receiving the highest number of votes shall be elected for four (4) years. In subsequent regular elections there shall be elected first three (3) councilmen and next four (4) councilmen and continuing in this manner.