A town meeting of the electors of the Village shall be held each year. The Council shall provide for such meeting, and shall cause at least ten days public notice to be given thereof. The Village Clerk shall call the meeting to order, and thereafter the meeting shall choose a moderator, who shall not hold any office under the Village, and a secretary, and shall determine its own rules. The members of the Council and the Mayor shall attend the town meeting and shall describe and explain the services, operations, finances and affairs of the Village for the current and ensuing years and shall answer questions concerning the same. The town meeting may agree to a statement of the sense of the electors participating therein on any subject, but such a statement shall not bind any officer of the Village.