The council has arranged the meeting to discuss which of the two devolution deals will bring the most benefits for residents and businesses.
It has played an active part in helping to negotiate two deals, which would devolve powers and responsibilities currently held by the government in London to a more local level.
These include powers and funding to deal with issues such as housing, skills and training, business support and transport.
Chesterfield is being asked to choose between:
Cllr John Burrows, leader of Chesterfield Borough Council, said: “It is important to be clear on what this debate is and isn’t about.
“It is not a debate about whether Chesterfield remains in the geographical boundaries of Derbyshire.
“We are proud to be in Derbyshire and will stay in Derbyshire irrespective of the outcome of these discussions.
“It is also not a debate about losing any of our council’s current powers and responsibilities or about the role of Chesterfield’s civic mayor.
“What this debate is about is what is best for our economy, for the jobs and training prospects of our residents, for the future sustainability and growth of our businesses, as well as access to millions of pounds worth of investment.
“At the moment many of the powers that we need are held by the government. We are therefore being asked how best these powers and the accompanying money can be devolved down to a more local level that is in the own self-interest of the people of Chesterfield.”