(A) The 38th General Assembly of the state, in regular session, enacted a statute, known as Chapter III 7 C.R.S. 1953, which is the enabling Act provided for in § 218 of Public Law 7374, 81st Congress, which designated the Department of Employment Security, State of Colorado, to act as the department to implement the coverage of employees and officers under the said Old Age and Survivors’ Insurance System. The town is hereby authorized to execute and deliver to the Department of Employment Security a plan, or plans, and agreement, required under § 5 of said enabling Act and the Social Security Act, to extend coverage to employees and officers of the town and do all other necessary things to effectuate coverage of employees and officers under the Old Age and Survivors’ Insurance System.
(B) The Clerk is hereby authorized to establish a system of payroll deduction to be matched by payments by the town to be paid into the Contribution Fund of the state through the Department of Employment Security, and to make charges of this tax to the Fund, or Funds, from which wage or salary payments are issued to employees of the town. Such payments are to be made in accordance with the provision of §§ 1400 and 1410 of the Federal Insurance Contribution Act on all services which constitute employment within the meaning of that Act. Payments made to the Department of Employment Security shall be due and payable on or before the eighteenth day of the month immediately following the completed calendar quarter, and such payments which are delinquent shall bear interest at the rate of 0.5% per month until such time as payments are made.
(C) Appropriation is hereby made from the proper fund, or funds, of the town in the necessary amount to pay into the contribution fund as provided in § 5(c)(1) of the enabling Act and in accordance with the plan, or plans, and agreement authority is given to the Mayor and the Clerk of the town to enter into an agreement with the Department of Employment Security, which agreement shall be in accordance with House Bill No. 291 and with paragraph 218 of the Social Security Act.
(Ord. 112, passed 5-8-1956)