(a) Each employee of the City, by completing and signing Form SBD 802-7 as set forth on "Exhibit A" attached to original Resolution 10-75, to the satisfaction of the Director of Finance, which may only be completed for U.S. Savings Bonds in multiples of eighteen dollars and seventy-five cents ($18.75) and U.S. Savings Notes (Freedom Shares) in multiples of twenty dollars and twenty-five cents ($20.25), shall be entitled to have such sum or sums for which deduction is authorized deducted from the employee's first pay of each month and shall be entitled to receive such U.S. Savings Bonds or such U.S. Savings Bonds and U.S. Savings Notes (Freedom Shares) for which deduction is authorized and made.
(b) The Director of Finance shall make the appropriate form available to the employees of the City upon which such payroll deduction may be authorized and upon the completion of such form and the signing of the same by such employee to the satisfaction of the Director of Finance, the Director is hereby authorized and directed to make the deduction authorized by the employee from the employee's first pay of each month and thereupon to procure the issuance of the appropriate denomination of U.S. Savings Bond or U.S. Savings Bond and U.S. Savings Note (Freedom Share) and deliver the same to such employee from whom the deduction had been made therefor.
(Res. 10-75. Passed 6-16-75.)