Baghdad, Iraq ? The first post-Saddam Hussein governing body of Iraqis will hold its inaugural meeting today, a watershed event on the nation’s path to democracy, said the top U.S. administrator, promising the council will have “real political power.”

Iraqi political leaders and the U.S.-led provisional government were in the final stages of setting up the political body, according to diplomats and negotiators.

L. Paul Bremer, Iraq’s American administrator, said the Governing Council of Iraq planned to meet for the first time today and was part of the U.S. “plan to support the establishment of this government of, by and for Iraqis.”

“It represents all the strands from Iraq’s complicated social structure — Shiites, Sunnis, Arabs, Kurds, men and women, Christians and Turkmens,” Bremer wrote in an opinion piece posted Saturday on The New York Times’ Web site.

“The council will immediately exercise real political power, appointing ministers and working with the coalition on policy and budgets,” he added.

In another step forward, the U.S. military said it was turning control of a restive western city over to Iraqi police, the first time coalition forces have agreed to leave security in the hands of local law enforcement in a major population center.

Iraq’s seven main groups that opposed Saddam’s rule and other political leaders met Saturday in Baghdad and were hoping to hold a final organizational meeting in the capital the next day, said Adel Noory Mohammed, a leader of the Kurdistan Islamic Union. He said final details, such as how to announce the council, were still being worked out.

Bremer had scheduled a news conference for Saturday at which he was expected to announce the council, but the meeting was canceled and no reason was given.

Many Iraqi political leaders want the council to announce itself, to give the appearance of independence from the occupying powers.

The council will consist of 25 to 30 prominent Iraqis and will have the power to name ministers and select an independent central bank governor. It will be consulted by Iraq’s American leaders on all important issues and is meant to be the forerunner of a larger constitutional assembly that will have about a year to draft a new constitution.