Term Limits Vote: Thursday

[img_assist|nid=108|title=Bloomberg|desc=Getty Images|link=none|align=left|width=420|height=227]The City Council will vote on changing the city's term-limits law this Thursday, according to a Council spokesperson.

The proposed legislation, which is supported by Michael Bloomberg, would allow city lawmakers, including Bloomberg, to run for a third four-year-term.

UPDATE: City Councilman Jimmy Oddo of Staten Island released a statement saying he'll vote no on the legislation. "Sometimes, process matters a lot," he said. 

UPDATE II: City Councilman Peter Vallone, Jr. of Queens announced he will vote in favor.