2-3-5: ORGANIZATION:
   A.   Meetings: The board of trustees of the police pension fund shall hold regular quarterly meetings on the second Tuesday of July, October, January and April annually and such special meetings as may be called by the president.
   B.   Officers: At the regular July meeting, the board shall select from its members a president, vice president, secretary and assistant secretary to serve for the period of one year, and until their respective successors are elected and qualify.
   C.   Expenditures; Quorum Required: No resolution or order for the payment of money shall be valid unless approved by a majority of the members of the board of trustees of the police pension fund, and any order for such payment shall be signed by the president and secretary of the board. (1978 Code § 2-7-5)