Stipend Employees - how to set up?

I need an idea, guys!  I have 7 City Council members who are paid a flat dollar amount, once per month.  Right now, these 7 are on their own payroll cycle/payroll ID (monthly); we'd like to incorporate them into the bi-weekly cycle but only have them paid on the FIRST bi-weekly check of the month.  We are struggling with how to code them (hourly vs salary) and give them a pay rate that works out to their monthly flat dollar stipend. 

Anyone else out there have stipend employees?  How do you set them up in Employee Master?