Council shall, within ninety days following January 1, 1932, establish by ordinance a Planning Commission of five members consisting of four electors of the Municipality, to be appointed by Council. Said four members shall be appointed to a term of four years, except that the members first appointed shall be appointed one for a term of one year, one for a term of two years, one for a term of three years, and one for a term of four years. Council may, by ordinance, provide for the compensation of said four members. The person holding the office of Manager shall be the fifth member of said Commission but shall not be eligible to hold the position of Chairperson. The Planning Commission shall designate one of its members as Chairperson on annual basis. (5-7-02; 11-2-10)