The Council shall have the power to fix the salary of its own members and of each officer, employee and members of any board or commission of the Village whether elected, appointed or chosen, except as otherwise provided in this Charter. Any such person may be required by the Council, from time to time, to furnish a bond or bonds for the faithful performance of his duties; and the Council may provide that the premium for any such bond shall be paid by the Village. The compensation of the elected officers of the Village shall be fixed at least thirty (30) days before the time for filing of nominating petitions for the terms beginning on the next succeeding first day of January, and shall not thereafter be diminished or increased in respect to any such terms or any part thereof. The compensation of each other officer, employee, and member of a board or commission of the Village shall be fixed by the Council and may be changed at any time in its discretion. The Council may authorize the payment or reimbursement of expenses incurred by any officer, employee or member of any board or commission of the Village for travel or otherwise in the interest of the Village.