A meeting to select candidates shall take place on a bi-annual basis and will precede by not less than sixty days the annual induction ceremonies. The quota of candidates elected in each year shall not exceed five (5), save and except in the initial year of the Sports Hall of Fame. The poser of election of all candidates is vested in the Board of Governors and the Selection Committee and their elections are final. The Chairman of the Board of Governors shall preside at this meeting.