[Referendum of 11-5-1963; Referendum of 11-8-1966]
The legislative power of the City shall be vested exclusively in the Board of Aldermen as hereinafter provided. The Board of Aldermen shall have the power to enact, amend or repeal ordinances not inconsistent with the laws of this state or of the United States; to create, regroup, consolidate or abolish boards or commissions, departments and offices; to define the power, duties and responsibilities thereof, provided the same are not inconsistent with the charter or the general statutes; and to provide for the preservation of order, peace, safety, health and welfare of the City and its inhabitants. The Board of Aldermen shall have the power to determine the compensation of all elected or appointed officials of the City; provided, however, no person elected to a City office shall receive an increase in compensation, nor a decrease in compensation, for that office during the term for which he was elected. The Board of Aldermen shall have the power as provided herein to levy taxes; to regulate the borrowing of money by the City; to adopt a budget for each fiscal year; to issue such bonds or notes and appropriate such funds as may be required for the proper conduct of the City's business; and it shall have such other powers as are appropriate to the exercise of its authority as the legislative body of the City and such powers and duties which, on the effective date of this charter, were conferred by law.