(a) The Town advisory finance committee shall be appointed by the Town Council, consisting of an odd number of members, no less than three (3) in number. All members shall be resident citizens of the Town. The Town Manager shall be a member of the Town advisory finance committee. A Town Council member or members, as deemed appropriate, shall be liaison(s) for the Town Council to the Town advisory finance committee.

(b) Appointments will be made based upon education knowledge and experience in public and/or private sector finance, or a related discipline.

(c) Each member appointed to the Town advisory finance committee shall be an annual appointment, for each calendar year. The term of each member appointed shall expire on December 31;st of the year of appointment. A member may be re-appointed for subsequent terms on an annual basis thereafter, without limitation on the number of years of service and appointment.

(d) Each member appointed shall be subject to removal by a majority of the Town Council for any cause deemed sufficient by the Town Council.

(e) There shall be no salary or compensation for members appointed to the Town advisory finance committee. As a consequence of no compensation being paid or provided to members of the Town advisory finance committee, such appointment is not a dual lucrative office as contemplated by Article II, Section 9 of the Indiana State Constitution, as interpreted.