The rate for overtime for employees paid on a monthly or on an annual basis unless otherwise specifically provided, shall be on the basis of $.51 per hour per $1,000.00 of annual salary rate of such employees, provided that such overtime rate shall be not less than $1.00 per hour, and be it further provided, that the rates herein established for overtime for the employees mentioned shall be in lieu of any other rate heretofore authorized.
(Prior code § 25-7)