SECTION 1. Section eight of Commonwealth Act Numbered One hundred fifty-eight, as amended by Republic Act Numbered Two hundred seventy-six, is amended to read as follows:
"SEC. 8. Election and compensation.—The Mayor shall be the chief executive of the City.
"He shall be elected by the qualified electors of the City. He shall be at least twenty-five years of age and a qualified elector of the City. He shall hold office for lour years unless removed, and shall receive a salary in accordance with the provisions of Republic Act Numbered Eight hundred forty. A discretionary fund of three thousand pesos a year shall be appropriated out of the funds the city to be placed at the disposal of the Mayor."