(a) At the municipal election in the year 1993 and at the municipal election every four years after that, the electors of each township shall elect one tax collector to serve for a term of four years, except when vacancies create shorter terms, from the first Monday of January after the election. Tax collectors shall reside in the township from which elected and shall have resided in that township continuously for at least one year immediately preceding their election.

(b) If the electors of any township fail to choose a tax collector or if any person elected to the office fails to give the required bond or to take the required oath, the vacancy shall be filled under section 407.¹