(a) The Ohio Public Employees Deferred Compensation Program is hereby adopted and all eligible employees are hereby extended the opportunity to join the Program.
(b) The Mayor and Clerk-Treasurer are hereby authorized to execute an agreement with the Ohio Public Employees Deferred Compensation Board on terms and conditions which the Mayor and Clerk-Treasurer determine are in the best interest of the Village, which agreement shall authorize the Board to offer the Program to all eligible employees of the Village and thereafter to administer the Program on behalf of such employees.