(1) The board of trustees of the pension fund may make all necessary rules for its government in the discharge of its duties, and shall hear and decide all applications for benefits or pensions. Its decision on these applications shall be conclusive, and not subject to revision or reversal, except by the board except as provided in subsection (1) of KRS 95.624. A record shall be kept of the meetings and proceedings of the board.
(2) The board of trustees of the pension fund shall make an annual report on the condition of the pension fund to the city commission or council at its first meeting in May of each year.
(3) The city attorney shall, if requested, advise the board of trustees of the policemen's and firefighters' pension fund in all matters pertaining to its duties and to the management of the fund. He shall represent and defend the board in all actions that may be brought against it, and bring all action in its behalf that may be requested by the board.