5-1-4: COMPENSATION:
   A.   The city will compensate police officers at an hourly rate not to exceed one hundred seventy one (171) hours per month. The first one hundred sixty (160) hours will be worked in a twenty eight (28) day period. The remaining eleven (11) hours may be used for court time, call outs, etc. Vacation, sick leave, holiday, etc., will not count toward the one hundred seventy one (171) hours worked. Each police officer's annual wage will be based on one hundred seventy one (171) hours and will be paid on a per month basis at an approved hourly rate. All part time officers will be required to work less than eighty (80) hours per month.
   B.   Earned administrative leave will be taken at straight time during the one hundred seventy one (171) hours. The police chief may require police officers to take time off prior to accumulating one hundred seventy one (171) hours.
   C.   Overtime or compensatory time will be accrued at time and a half only after one hundred seventy one (171) hours have been worked. Each police officer may not accumulate more than eighty (80) hours of compensatory time. Prior to reaching the eighty (80) hour limit, police officers will be given the option at the end of each pay period to take overtime or compensatory time. If the police officer does not indicate his preference, the officer will receive overtime. Additional hours accumulated above the eighty (80) hour compensatory time limit will be paid at an overtime rate. Any compensatory time taken will be approved by the police chief and may not be taken in conjunction with vacation time. Lump sum payoffs for compensatory time will only occur when that officer is terminated or resigns. Compensatory time records will be maintained by the police chief, and a copy will be submitted to the city clerk for his records.
   D.   Compensation for recognized holidays will accrue in the following manner. If not working, the police officer will receive compensation for hours that would have been normally scheduled. These hours may not be applied to compensatory time nor overtime. If working, the officer will receive compensation at double the rate of pay. The hours worked will not be considered part of the one hundred seventy one (171) hours since the officer is already being compensated at premium pay.
   E.   The police chief will be paid a monthly salary. (Res. 99-2, 1-13-1999)