The office of President of Council may be vacated:
(a) By the incumbent ceasing for any reason to be a member of Council; or
(b) By resignation.
The members of Council, other than the President of Council, shall have power by resolution to accept the resignation of the President of Council from such office, which shall become effective at the time provided in such resolution. Any vacancy in the office of President of Council shall be filled by election of Council for the unexpired term.