Five days after he pleaded guilty to stealing his own campaign funds and then lying about it, Buffalo Common Councilman Brian Davis walked down the steps of city hall and told reporters that he is resigning.

"I have a duty to do what's best for my constituents and my city," Davis said. "I accept this and that's what I've decided to do here today. I would like to tender my resignation as Ellicott District Council member."

The resignation takes effect immediately.

The announcement comes after sources said Davis met with the city's Corporation Counsel earlier in the day.

The Law Department has been formulating a legal opinion, at the request of the Common Council, on whether Davis vacated his seat after pleading guilty as charged on Friday.

Davis' announcement ends days of speculation that he would be forced out of office after he pleaded guilty to two misdemeanors.

Davis admitted to funneling campaign funds into a private bank account for personal use and then lying about it on financial disclosure reports.

"I am truly sorry and I do apologize to every one of my constituent groups for my actions and for allowing this to be a distraction from the great strides we have made," said Davis in a three minute statement that ended with the embattled lawmaker walking back into city hall.

Davis refused to answer any questions following the brief statement.

Now attention turns to finding Davis' replacement.

"We want a good, clean, honest individual -- an independent individual -- that has the best interest in the Ellicott residents and the entire City of Buffalo at heart," said Common Council President David Franczyk.

According to the city charter, the vacancy must be posted on the city's Web site for five days and then a majority of the council will select someone to fill the remaining two years of Davis' term.

The candidate must be a member of the same political party as the outgoing member, in this case a Democrat, and live in the Ellicott District for at least one year.

"I'm going to be advocating for an open process so after that five days are up they can come into a committee meeting and they can make their case to the council members to become the new Ellicott District council member," said South District Councilman Michael Kearns.

Speculation on a replacement has already begun to run through city hall. Sources named Erie County Legislator Barbara Miller-Williams, former school board candidate Byron McIntyre and Pastor Darius Pridgen as possible replacements.

Davis pleaded guilty to misuse of campaign funds and filing a false instrument in Buffalo City Court.

He faces up to one year in jail and a $1,000 fine when he is sentenced in February.