There is hereby created the position of Deputy Chief of Police, which position shall be subject to the following limitations or authorizations:
(A) No more than 1 Deputy Chief position shall exist and the position shall be an exempt rank, immediately below that of the Chief of Police;
(B) The Deputy Chief of Police shall be appointed by the Chief of Police;
(C) The Deputy Chief may be appointed from any rank of sworn, full-time officers of the Police Department; but must have at least 5 years of full-time service as a police officer in the city;
(D) The Deputy Chief shall serve at the discretion of the Chief of Police and may be removed from that position by the Chief of Police, without cause, at the discretion of the Chief of Police;
(E) Upon removal from the position of Deputy Chief, the officer shall revert to the rank currently held, without regard to whether a vacancy exists in that rank; and
(F) A Deputy Chief of Police, having been appointed from any rank of sworn, full-time officers of the Police Department, shall be permitted, regardless of rank, to take promotional exams and be promoted to a higher classified rank than he or she currently holds, without having to resign as Deputy Chief of Police.