Annually, on or before December 31, the Council shall enact an ordinance fixing, for the coming calendar year, the wages, salaries or other compensation of all officials and employees of the town. The annual compensation ordinance need not be printed as a part of this code but shall be of the same full force and effect as if made a part hereof. In the event that the Council shall fail to timely enact the ordinance, compensation for the coming year shall remain the same as for the year last past.
(1982 Code, § 4-7)