(a) The members of the board of commissioners shall serve for terms of four years, and the mayor shall serve for a term of two years, beginning the day and hour of the organizational meeting following their election, as established by ordinance in accordance with this Charter, provided, they shall serve until their successors are elected and qualify.
(b) No person shall be eligible to be a candidate or be elected as mayor or as a member of the board of commissioners or to serve in such capacity, unless he is a resident and a qualified voter of the town.
(c) In the event a vacancy occurs in the office of commissioner, the board of commissioners shall by majority vote appoint some qualified person to fill the same for the remainder of the unexpired term.