The members of Council shall be compensated for each regular meeting attended. The Mayor shall receive an annual salary. The Council may change the salaries of members of Council and the Mayor by ordinance adopted by an affirmative vote of at least five members of Council. Any ordinance changing the salary of members of Council or the Mayor shall be adopted at least ninety days prior to the next ensuing election at which the members of Council are to be elected, and shall be effective on the first day of January following such election for newly elected Council members only. The compensation of all other officers and employees of the Municipality may be increased or decreased at any time by ordinance.