A.    A police pension fund is continued for the city to be administered by a board of trustees pursuant to Indiana Code, 36-8-6-1 et seq., as to the 1925 fund, and Indiana Code, 36-8-8-1 et seq., as to the 1977 fund.

    B.    The board of trustees of the police pension fund of the city shall be composed of seven members: the mayor, the clerk-treasurer and the chief of police, who shall be ex-officio members of the board, or retired member of the police department of the city, if there is one, and the remaining members shall be active members of the police department of the city. The mayor shall be the presiding officer to oversee the transaction of official business, the clerk-treasurer shall be the treasurer, and a secretary shall be selected from the members.

    C.    The duties, powers and responsibilities of the board of trustees of the police pension fund shall be those provided by law. (Prior code § 7-33)