The Council shall fix by ordinance the compensation and benefits of all elected officials, officers, and employees of the City. The salary of elected officials shall be set in even-numbered years prior to the election and for the succeeding term of office, which shall not be changed during their term of office. Council may require any officer or employee to give bond for the faithful performance of their duty, in such an amount as it may determine, and it may provide that the premium thereof shall be paid by the City. All compensation and benefits, other than salary of elected officials, may be set and changed by Council during the term of office or employment, by ordinance. (Amended 5-3-11)