There is hereby created a Planning and Zoning Commission which shall consist of one (1) member of Council selected by the Council annually and four (4) electors of the Municipality, not holding other Municipal office or appointment, to be appointed for terms of four (4) years by the Mayor, subject to confirmation by a majority vote of the members of Council, except that of the members appointed for the terms beginning January 1, 1967, which appointments shall be made on or before January 10, 1967, one (1) shall be appointed for a term of one (1) year, one (1) for a term of two (2) years, one (1) for a term of three (3) years, and one (1) for a term of four (4) years. A vacancy occurring during the term of any member shall be filled for the unexpired term in the manner authorized for an original appointment.
   The Commission shall choose from its members a Chairman, Secretary and such other officers as it shall deem necessary; shall make its own rules and regulations; and keep a journal of its proceedings. The Commission shall appoint or reappoint its officers at its first regular meeting in January of each year. Members of the Commission shall serve without compensation unless otherwise provided by ordinance.
   The Commission shall meet at least once a month. A majority of the members of the Commission shall constitute a quorum for the transaction of business and the affirmative vote of three (3) members of the Commission shall be necessary for any official action.