(a) Salary.--Except as provided in subsection (b), a council member shall receive an annual salary for the member's service during the member's term. The salary shall be fixed by ordinance and payable in regular installments. Council may, by an ordinance fixing the salaries, provide for the assessment and retention from the salaries of reasonable fines for absence from regular or special meetings of council or committees of council.
(b) Compensation.--As an alternative to the annual salary method in subsection (a), council may provide that a member of council will receive compensation, based on attendance, on a per-meeting basis. The compensation shall only be payable for duly advertised public meetings in which a council member participated. If council has provided that members of council will receive compensation on a per-meeting basis, council may provide for the forfeiture of up to 1/12th of the annual compensation of a council member or impose another appropriate penalty for each unexcused absence from a regularly scheduled meeting.
(c) Range.--The salary paid to a council member shall be in accordance with the following:
(1) Until changed by ordinance, for the term of council members in newly created cities, each council member may receive a salary as follows:
(i) Not more than $1,875 per year in cities having a population of less than 5,000.
(ii) Not more than $2,500 per year in cities having a population of 5,000 or more but less than 10,000.
(iii) Not more than $3,250 per year in cities having a population of 10,000 or more but less than 15,000.
(iv) Not more than $4,125 per year in cities having a population of 15,000 or more but less than 25,000.
(v) Not more than $4,375 per year in cities having a population of 25,000 or more but less than 35,000.
(vi) Not more than $5,000 per year in cities having a population of 35,000 or more.
(2) The compensation to be received by council members and elected officials in cities other than newly created cities shall be fixed by ordinance of council finally enacted at least two days prior to the last day fixed by law for candidates to withdraw their names from nominating petitions.
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