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To advise the mayor and aldermen/alderwomen on financial issues. These issues shall include, but not be limited to, the review of collective bargaining agreements prior to execution and an annual report on the amount of public debt the City may incur without jeopardizing its bond rating.
Seven persons with demonstrated knowledge of public finance, appointed by the Mayor and confirmed by a majority vote of the City Council. Each member shall serve a term of 4 years, commensurate with the term of the Mayor and City Council, or until the member's successor is confirmed.