At the first regular meeting in January of each year, the Council shall:
(A) Designate the depositories of city funds;
(B) Designate the official newspaper;
(C) Choose a Council member as Acting Mayor, who shall perform the duties of the Mayor during the disability or absence of the Mayor from the city or, in case of a vacancy in the office of Mayor, until a successor has been appointed and qualifies;
(D) Appoint those officers and employees and those members of boards, commissions, and committees as may be necessary; and
(E) Establish and appoint Council members to those Council committees as are deemed appropriate for the efficient and orderly management of the city.
(1997 Code, § 4.04)