The officers of the Incorporated School District shall be a Moderator, a Clerk, a Treasurer, a Collector, and an Auditor, who shall be chosen annually, and a Prudential Committee of seven hereafter to be chosen as follows:

At each annual meeting of the Town of Middlebury, there shall be elected a member of the Committee for a term of three years. A vacancy on the Committee shall be filled for the unexpired term by appointment by a majority of the members of the Committee. All elected officers shall be elected by Australian ballot, chosen from the legally qualified voters of the Town, and shall hold their respective offices until their successors are elected and qualified.