In consideration of an officer's or employee's retention in or entry upon employment with the city on and after the effective date of the inclusion of his office or position under old-age survivors insurance coverage, the director of finance, pursuant to the authority granted the city in chapter 126, Laws of 1951, of the State of Arizona, being A.R.S. title 38, chapter 5, article 1, is hereby directed to deduct and withhold for each and every payroll period from the compensation of such officer and employee a sum equal to the maximum amount imposed, or which may hereafter be imposed, by section 1400 of the Federal Internal Revenue Code on persons engaged in employment as defined by section 1426 of such code. The amounts so withheld shall be paid to the state agency as provided by section 22-17; however, failure of the director of finance to withhold such sums shall not relieve such officer or employee from whose compensation such sums are not withheld from the liability thereof. If more or less than the correct amount is deducted in any payroll period, proper adjustments, or refund if adjustment is impracticable, shall be made, without interest, in such manner and at such times as the state agency may prescribe.
(1953 Code, ch. 20, ยง 32)