At the first regular Council meeting in January of each year, the Council shall:
(A) Designate the depository or depositories of city funds;
(B) Designate the official newspaper;
(C) Elect an acting Mayor from the Council membership, who shall perform the duties of the Mayor during any disability or absence of the Mayor from the city or, in case of a vacancy in the office of Mayor, until a successor has been appointed and qualifies; and
(D) Appoint such officers and employees and such members of boards, commissions, and committees as may be necessary.
(2006 Code, § 2.04)