The governing body of a municipality may, by ordinance, choose to hold the regular municipal election only in even-numbered years. If the governing body adopts an ordinance to hold the regular municipal election only in even-numbered years, the governing body must designate the number of vacancies and the number of years, not exceeding four years, for each vacancy so that all succeeding elections have, insofar as practicable, the same number of vacancies to be filled. If the governing body of the municipality adopts an ordinance to hold the regular municipal election only in even-numbered years, the governing body shall extend the term of any office holder whose term was set to expire in an odd-numbered year, and the office holder shall serve as a member of the governing body until the office holder or another candidate for the office is duly elected and qualified.
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