At the first meeting of the Treasury Investment Board in the year 1966, and at the first meeting of such Board in each year thereafter, the members of the said Board shall elect a Chairman and Secretary by a majority vote of the members of said Board, and the Chairman and Secretary so elected shall serve at the pleasure of the Board and until successors are elected by said Board. The Chairman of the Treasury Investment Board shall be a member of such Board, but in no event shall the Chairman of the Board, in his dual capacity as Board member and presiding officer of the Board, cast more than one vote on any action. The Secretary may be elected from within or without the Board's membership, and may hold other employment with the City. The Secretary shall keep an accurate journal of the proceedings and actions of the Treasury Investment Board.