In carrying out its authorized functions, the council shall do all of the following:

    (a) Adopt bylaws that govern its operations.

    (b) Prepare an annual operating budget, including apportionment of costs to member governments.

    (c) Hold an annual meeting at which time it shall elect a chairperson, vice-chairperson, and secretary-treasurer, submit an annual report to the member governments, and adopt an annual budget that constitutes the council's authorization of activities for the year.