The Council may establish the salary and other compensation of the Mayor and its other members by ordinance, but changes in salaries effective for the ensuing term shall be passed by the Council at least thirty (30) days prior to the last day fixed by this Charter for filing as a candidate for the office of Council member; provided the salary of members of the first Council and the first Mayor under this Charter shall be as follows: members of Council shall receive the sum of ten dollars for each regular and special Council meeting attended, and the person serving as Mayor shall receive, in addition to the foregoing compensation based on the number of meetings attended, the sum of one thousand dollars per year payable in monthly installments.