A vacancy in the Council, whether it be in the office of Mayor or Council Member, shall be deemed to exist in case of the failure of any person elected thereto to qualify on or before the date of the second regular meeting of the new Council, or by reason of the death, resignation, removal from office, removal from the City, continuous absence from the City for more than three months, or conviction of a felony of any such person whether before or after his qualification, or by reason of the failure of any member of the Council without good cause to perform any of the duties of membership in the Council for a period of three months. In each such case the Council shall by resolution declare such vacancy to exist and shall forthwith appoint an eligible person to fill the same until the next regular municipal election when the office shall be filled for the unexpired term. In the event aCouncil Member moves his residence from the ward from which he was elected to the other ward within the City, no vacancy shall be deemed to exist during the unexpired portion of the current term, but he should serve to the end of such term as though there had been no such removal. Nor shall a change in ward boundaries as herein provided in any way affect the current term of any Council Member. However, a candidate for election or re-election to the office of Council Member must be a bona fide resident of the ward from which he seeks election and meet all other requirements of such candidate.