A. There shall be a board of trustees of the Police Pension Fund of the City of Shreveport for the administration, management, operation, and control of the fund.
B. The board shall be composed of the following members:
(1) The mayor of the city of Shreveport, who shall serve as president.
(2) The chief administrative officer of the city of Shreveport.
(3) The director of finance of the city of Shreveport, who shall serve as treasurer.
(4)(a) Five persons, each of whom shall be one of the following:
(i) An active member of the fund who became a member prior to July 12, 1977.
(ii) A former member who is receiving a benefit from the fund and who became a member prior to July 12, 1977.
(iii) The surviving spouse of an active member of the fund who became a member prior to July 12, 1977.
(iv) The surviving spouse of a former member who was receiving a benefit from the fund immediately prior to death and who became a member prior to July 12, 1977.
(b) These members shall be elected by those persons who are eligible to become members of the board of trustees. The elections shall be conducted in the manner set forth by the board of trustees sitting prior to the election.
(c) These members shall serve four-year terms.
(d) The board of trustees shall elect one of these members to serve as secretary.
(5) A member possessing the same qualifications as those of the members provided for in Subparagraph (4)(a) of this Subsection shall be elected by the other members for a term concurrent with that of the elected members provided for in Subparagraph (4)(a) of this Subsection.