The business advisory board shall provide the city council, on the first business day of each April, a report identifying significant developments and trends which have economically impacted the citizens of the City. The board shall make such other reports to the city council as may be requested of it from time to time, when such requests are by four or more members of the city council. All reports or recommendations made by the board shall be advisory only to the city council and shall be presented by the chairperson of the board and shall consist of a majority report. A minority report may also be submitted by any member. (Code 1979, § 8-59)