(a)    There is hereby created a Records Commission composed of the Mayor or his appointed representative, as chairman, the Director of Finance, the Law Director and a resident appointed by the Mayor. The Commission shall appoint a secretary who may or may not be a member of the Commission and who shall serve at the pleasure of the Commission. The Commission may employ an archivist to serve under its direction. The Commission shall meet at least once every six months and upon call of the chairman.
   (b)   The functions of the Commission shall be to provide rules for retention and disposal of records of the municipal corporation and to review applications for one-time records disposal and schedules of records retention and disposition submitted by municipal offices. Records may be disposed of by the Commission pursuant to the procedure outlined in this section. The Commission may at any time review any schedule it has previously approved, and for good cause shown may revise that schedule.
   When municipal records have been approved for disposal, a list of such records shall be sent to the Auditor of State. If he disapproves of the action by the Commission, in whole or in part, he shall so inform the Commission within a period of sixty days and these records shall not be destroyed. Before public records are disposed of, the Ohio Historical Society shall be informed and given the opportunity for a period of sixty days to select for its custody such public records as it considers to be of continuing historical value.