In January, 1966 and each five years thereafter, the Mayor shall appoint, subject to confirmation by a majority vote of Council, five electors of the Municipality holding no other office, appointment or employment in the government of the Municipality, as members of a Charter Review Commission. Such Commission shall review the Charter, and within five calendar months after such appointment, recommend to Council such amendments, if any, to this Charter, as in its judgment are desirable. The Council may by a two-thirds vote of its members submit to the electors not later than the next succeeding general election any such proposed amendments. The members appointed to said Commission shall serve without compensation. Meetings of the Charter Review Commission shall be open to the public.