Effective July 1, 2005 through December 9, 2009, the salary for each member of the board of aldermen is thirteen thousand five hundred thirty-nine dollars ($13,539) 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, city employees receive, whichever is less. (Res. No. 07-7, § 1, 3-1-07)