On the first Monday following January first of each year, the Council shall meet for the purpose of organization. Council shall adopt its own rules, regulations or by-laws and shall keep a Journal of all its proceedings. The Journal shall be open for public inspection at all reasonable times. The voting upon any ordinance, resolution or other measure shall be by roll call and the vote of each Councilman shall be entered upon the Journal.
   Five (5) members of Council shall be present at any regular or special meeting of Council to constitute a quorum to transact business, but a lesser number may convene from time to time and compel the attendance of absent members in such manner and under such penalties as may be prescribed by law.