The board of aldermen shall by ordinance fix the compensation of the mayor, aldermen, clerk, chief of police, and all other municipal officers. The board of aldermen may by ordinance increase or decrease their compensation and the compensation of any nonelected municipal officer and may increase the compensation of other elected officials. However, the board of aldermen shall not reduce the compensation of any elected official during the term for which he is elected.

The Attorney General has opined that this statute request that the reduction in compensation for an elected official must be taken prior to the beginning of the new term for such official. See, AG Op. No. 04-0196. The time the “new term” begins is the when the official is elected to the office, not when he or she takes the oath of office. See, AG Op. No. 16-0161.