(A) There is hereby created the office of City Administrator.
(B) The powers and duties of this office are hereby established as follows:
(1) Advise the executive authority of the city in policy formulation on overall problems of the city;
(2) Have major responsibility for preparation and administration of operating and capital improvement budgets under direction of the executive authority by appropriate order;
(3) Have continuing direct relationships with operating department heads on implementation and administration of programs; and
(4) Carry out all additional duties lawfully delegated by appropriate order of the executive authority, and have the same powers as the executive authority in carrying out those duties.
(C) The oath of office to be executed shall be that set forth in Section 228 of the Constitution of the Commonwealth of Kentucky.
(D) Before entering the duties of his office, the City Administrator shall execute bond to the city, with a corporate surety authorized and qualified to become surety on bond in this state, in an amount to be established by the City Commission.
(E) Compensation for this office shall as established by ordinance.