The person elected as the Mayor at the regular municipal election held in 2007 is hereby designated as Mayor under this Charter with all the powers, duties and functions provided by this Charter to serve through December 31, 2011. At the regular municipal election to be held in 2011 and each four (4) years thereafter, a qualified person shall be elected Mayor for a four-year term of office. The term of the Mayor shall commence on the first day of January next following his or her election.