The officers who shall occupy the elective offices of the town shall be determined in accordance with the following rules pursuant to G.S. § 163-292.
(a) When more than five persons are seeking election to the five seats of the Board of Aldermen, those five candidates receiving the highest number of votes shall be declared elected.
(b) If each of two or more candidates receiving the highest number of votes shall receive the same number of votes, then the Board of Elections shall determine the winner by lot.