The Council shall have the power to fix the salary of each officer, employee and member of any department, division, board or commission of the City whether appointed or chosen. Any such person may be required by Council, from time to time, to furnish a bond for the faithful performance of their duties, and the Council shall provide that the premium for any such bond shall be paid by the City. In the event that it is proposed to increase or decrease the compensation of the Mayor, Director of Law, and each member of the Council, the ordinance where by such increase or decrease is proposed shall be submitted to the electors for approval at the next regular election-municipal or general. Such submitted ordinance shall not become effective unless it shall be approved by a majority of electors voting upon said ordinance, and must be in effect at least thirty (30) days before the time for the filing of nominating petitions for the term beginning on the next December 10th, or within five (5) days after the Board of Elections has certified their election, whichever comes later, and shall not be diminished or increased in any respect to any such terms or any part thereof. Council’s monthly compensation shall be indexed notwithstanding, the compensation of the Mayor, Director of Law and each member of Council elected at a regular municipal election held in 2007 or thereafter (or appointed to fill a vacancy in office held by such a person). Council’s monthly compensation shall at all times be not less than the State minimum amount required to earn one month of Public Employees Retirement System credit and shall be automatically adjusted during their terms of office if the Sate minimum is increased to a level in excess of their scheduled compensation for their current term. The Council may authorize the payment or reimbursement of expenses incurred by any official, employee or member of any department, division, board or commission of the City for travel or otherwise in the interest of the City. (Amended 11-5-13; 11-6-18.)