The Board of Aldermen shall fix the salary of the Mayor. Effective July 1, 2005, the mayor’s salary is sixty-seven thousand six hundred ninety-two dollars ($67,692) per year. Said salary shall be adjusted annually on July 1, beginning on July 1, 2006, in accordance with the Consumer Price Index (“CPI”) for the Washington Metropolitan Region, as established in the March report, or the cost of living adjustment, if any, that City employees receive, whichever is less. (Acts 1951, Ch. 539, § 27; Acts 1953, Ch. 496, § 1; Res. of 12-14-61: Res. of 5-5-66: Res. No. 3-73, § 1; Res. No. 5-77, § 1, 4-14-77; Res. No. 9-81, § 1, 3-19-81; Res. No. 13-84, § 1, 12-7-84; Res. No. 21-89, 9-29-89; Res. No. 93-6, 5-21-93; Res. No. 97-22, 6-6-97; Res. No. 97-30, 8-8-97; Res. No. 01-4, § 1, 2-1-01; Res. No. 05-32, § 1, 8-18-05)