I would like to make a suggestion. Instead of going through the registry by chronological order, perhaps we could use a random number generator to select a random citizen to name a city. This way, it is still the individual citizens who are naming their cities, but those who registered first are not accorded any special benefit for that fact.
As to the president naming the first city, I think it would contradict the equality I'm hoping for, even though I hardly think that the naming of one city is such a big deal. However, it's the principle that counts, and I see no reason why the first president should be accorded any special privilege. Does the president in the second term get to name the first city founded in his term?