(A) The contract entered into by and between the Town Council and the Board of Administration of the Public Employees Retirement System of the state, dated February 1, 1952, is approved, ratified and adopted by the town.
(Prior Code, § 2.32.010)
(B) The town is authorized and directed to take any and all proceedings necessary for the carrying out of the provisions of the contract, and the town is authorized and empowered to levy and collect sufficient taxes to raise such funds as are necessary for the town to pay the Board of Administration, as it is obligated to under the terms and conditions of the contract with the Board, and to carry out all obligations that may become due and payable on its part under the contract.
(Prior Code, § 2.32.020)
(Ord. 76, passed - -1952)