That's the impulse response of a generic damped resonant filter. Derivations abound. If you understand continuous-time frequency-domain analysis, consider a filter with transfer function $$H(s) = \frac{b_1 s + b_0}{s^2 + 2 \zeta \omega_o s + \omega_o^2},$$ and solve for the impulse response. Basically, that one's common enough that you'll find it in a table of Laplace transform pairs, in any text on frequency-domain analysis and splattered all over the web.
Note that they may be a bit lazy in their notation -- they're assuming the sine wave is not phase shifted; I suspect that for a real system it is. However since they're talking about the sound that the bar makes, and because with sounds the phase of the components often doesn't matter, they're probably discounting this phase shift and they just expect you to do so as well.
The reason this shows up in their analysis is because it's a reasonably good fit to reality: bodies made from elastic material tend to exhibit a number of vibratory modes, the modes tend to be resonant, and they tend to be damped. The only real divergence between the sum that they're presenting is that -- in theory at least -- the number of modes in a thing made from elastic material is infinite.
In practice, though, the effect of the higher-order modes (i.e. modes that result in more complicated deformations of the body) tend deform less, they tend to have higher damping coefficients, and they tend to be at higher frequencies. All of these factors make them easier to ignore -- so for practical work, the number can be truncated.