(A) There is created a city Officers Compensation Commission which shall determine the salaries of all elected city officials.
(B) The term of office of each Commissioner shall be 7 years, provided that the members first appointed shall be appointed for terms of 1, 2, 3, 4, 5, 6, and 7 years. All first members shall be appointed within 30 days subsequent to the effective date of this section. Hereafter, 1 member shall be appointed before October 1 of each successive year for a term of office which shall commence on November 1 of each successive year.
(C) No member or employee of the legislative, judicial, or executive branch of any level of government or members of the immediate family of such a member or employee shall be eligible to be a member of the Officers Compensation Commission.
(D) The Commission shall, by resolution, determine the salaries of the elected officials of the city which shall be the salaries of those officials.
(E) The Commission shall file its resolution of compensation with the City Clerk within 3 days of its adoption. The City Council may reject the resolution of compensation by a resolution of rejection adopted by a 2/3 vote of the members elected to and serving on the City Council. The resolution of compensation shall become effective 30 days after the filing of the resolution with the City Clerk unless rejected by the City Council. If rejected, the existing salaries of elected officials shall prevail.
(F) Any expense allowance or reimbursement paid to elected officials in addition to the salary determined by the Commission shall be for expenses incurred in the course of city business and accounted for to the city.
(G) The Officers Compensation Commission shall meet for not more than 15 session days in 1978 and every odd-numbered year thereafter and shall make its determination within 45 calendar days of its first meeting. A majority of the members of the Commission constitutes a quorum for conducting the business of the Commission. The Commission shall take no action or make determination without a concurrence of a majority of the members appointed and serving on the Commission. The Commission shall elect a chairperson from among its members. The members shall receive no compensation but shall be entitled to actual and necessary expenses incurred in the performance of their duties.
(H) For the purpose of this section, the following definition shall apply unless the context clearly indicates or requires a different meaning.
SESSION DAY. Any calendar day on which the Commission meets and a quorum is present.