Holding other Office: No member of the Common Council shall hold any other city or appointive office, or other city employment, for additional compensation as referred to in Section 1.0211, during the term for which he was elected to the Common Council. This section, however, does not apply to employees of an educational institution that may be acquired by the city, any other subsidiary enterprise acquired by the city that is not directly related to the specific functions of municipal government per se, nor any employment in an enterprise acquired or sponsored by the city through industrial revenue bonding arrangements. This section shall not apply to members of the Common Council as it relates to committee appointments related to the functions and operations of the municipal government; nor shall it apply to officers or members of the volunteer fire department.