(a) A Financial Advisory Board is hereby established to consist of three members to be appointed by the Mayor with the approval of a majority of Council.
(b) The members of the Board shall serve without compensation for a period not to exceed the term of office of the Mayor and may reside either within or without the municipal boundaries of the City.
(c) After appointment and approval, the Board shall thereupon meet and select a chairman who shall serve in that capacity for a twelve month term.
(d) The Board shall meet at such times as the chairman may designate to review the financial status of the City and shall furnish recommendations to Council concerning financial matters of the City as may be requested by Council or the Mayor; copies of such recommendations to be submitted to the Mayor and the Director of Finance.
(e) The members of the Board shall serve at the pleasure of the Mayor and may be removed at any time by either the Mayor or a majority of Council.
(f) The Mayor may fill vacancies in the Board by appointing new members with the approval of a majority of Council.
(g) Members of the Board shall have access to any or all of the financial records of the City and shall be furnished any reports or records by the Director of Finance upon request. (Ord. 8-1977. Passed 3-14-77.)