Sec. 5. (a) The bridge authority shall hold an organizational meeting within thirty (30) days after the initial appointment of the members and every January of each subsequent year. During each organizational meeting, the bridge authority must elect the following officers from existing bridge authority membership:
(1) A chair.
(2) A vice chair.
(3) A secretary treasurer.
(b) The bridge authority may adopt rules under IC 4-22-2 in order to implement this section.