If the council of any borough fails to organize within ten days from the time prescribed in this chapter, the court of common pleas, upon the petition of at least ten registered electors of the borough verified by the affidavit of one of the petitioners, shall issue a rule upon the delinquent members of council to show cause why their seats should not be declared vacant. The rule shall be returnable not less than five days from the time of its issue, and, after hearing, the court may declare the seats of the members of council responsible for the failure to organize vacant and shall appoint others in their place, who shall hold office for the respective unexpired terms.