The Board of Supervisors shall have the power to provide by ordinance retirement benefits for persons who become employees of the City and County of San Francisco under any lease, or other temporary arrangement, entered into between said City and County and the Pacific Gas & Electric Company, and because of their employment by said company at the effective date of said lease, or other temporary arrangement. The effect of said ordinance shall be to provide essentially the same retirement benefits for said employees on account of service rendered under said lease, or other temporary arrangement, as if said persons had been employees of said company throughout the term of said lease.
The further effect of said ordinance shall be to provide for permanent retirement rights for said persons, in the event they become employees of said City and County upon purchase or other permanent acquisition of the properties of said company, essentially the same benefits on account of service rendered as employees of said City and County, as they would have received if they had been members throughout said service of the San Francisco City and County Employees Retirement System on the same basis as other employees of said City and County, except members of fire or police departments.