In January, 1967, and each five (5) years thereafter, the Council shall appoint as members of a Charter Review Commission nine (9) electors of the City holding no elective officer of the City of Sheffield Lake. Such Commission shall review the Municipal Charter, and within five (5) calendar months after such appointment, recommend to Council such alterations, revisions, and amendments, if any, to this Charter, as in its judgment are desirable. The Council shall submit to the electors not later than the next succeeding general election any such proposed alterations, revisions, or amendments. The members appointed to said Commission shall serve without compensation. Meetings of the Charter Review Commission shall be open to the public.