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In the event of a vacancy or suspension in the office of Municipal Manager, for whatever reason, the Council shall appoint by resolution, which shall be immediately effective, a person whom they deem to be qualified to be Acting Municipal Manager. The Acting Manager may serve for a period of not more than one hundred eighty (180) days, during which period the Acting Municipal Manager shall have the powers, duties, and functions of any other administrative office held. The Council shall fill any vacancy in the office of Municipal Manager within one hundred eighty (180) days after the appointment of an Acting Municipal Manager. Council may extend the period of service of the Acting Manager and the period of service of the Acting Manager and the period of appointment of the Municipal Manager by a maximum of an additional ninety (90) days. The Council shall establish the compensation for the Acting Municipal Manager by ordinance or resolution, which shall be immediately effective.