A majority of the commissioners of the Urban Renewal Authority shall constitute a quorum for the purpose of conducting business and exercising the power of the Authority and for all other purposes. Action may be taken by the Authority upon a vote of a majority of the commissioners present, unless in any case the by-laws of the Authority shall require a larger number. By-laws shall be adopted by the Authority. Meetings of the Authority may be held anywhere within the City as the Authority shall from time to time designate. Any person may be appointed a commissioner of the Authority if he resides within the City and is otherwise eligible under general law. (1969 Code Sec. 2-83)