The Council shall fix the time and place of holding regular meetings, may provide for special and adjourned meetings; and may prescribe rules and regulations, not inconsistent herewith, for the transaction of business, and for its own guidance and government. The Mayor shall be President of Council, but in the case of his absence, one of the Councilmen present at any meeting thereof, selected for the purpose by a majority of the members present shall act temporarily as such officer. A majority of the Council shall constitute a quorum. No member of the Council shall vote, or take part in the consideration of any proposition in which he is or may be interested otherwise than a resident of said Town; and the Mayor or any other presiding officer shall have but one vote, on any question, and that as a member of Council.