Please list down some key points  regarding governance system of Portland from the given text
1. Portland, Oregon's governance is built on a city commission system.
2. Elected representatives include a city auditor, commissioners, and the mayor.
3. The mayor and commissioners, who make up the City Council, are in charge of setting legislative policy and managing the different bureaus in charge of running the city on a daily basis.
4. After a popular vote on May 3 of that year, Portland adopted a commission system of governance.
5. There are no term limitations on the terms of each elected official's four-year terms.
6. All members of the municipal council are chosen at-large.
7. Portland voters approved a ballot measure in 2022 to replace the commission form of government with a 12-member council elected in four districts using a single transferable vote, with a professional city manager appointed by a directly-elected mayor. The first elections under the new system would take place in 2024.