(A) Mayor. The Mayor shall receive compensation in the amount of $1,700 per month during the Mayor's term of office.
(B) Town Council. Each Town Council member shall receive compensation in the amount of $1,200 per month during their term of office.
(C) Annual Increase. The monthly compensation for the Mayor and Town Council members shall automatically increase on January 1st of each year beginning January 1, 2025, in an amount equal to the percentage increase in the Denver-Aurora-Lakewood Consumer Price Index ("CPI"). Should the CPI decrease in any given year, the monthly compensation shall not decrease, but instead, shall remain the same as the prior year.
(D) If the Town of Vail budget for any year does not include monies allocated for employee compensation increases, the monthly compensation for Mayor and Town Council will not increase, but instead remain the same as the prior year.
(Ord. 30(2007) § 1; Ord. 14(2023) § 1)