(A) As set forth in ILCS Ch. 65, Act 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 ILCS Ch. 65, Act 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 ILCS Ch. 65, Act 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 ILCS Ch. 65, Act 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.