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<br /> ORDIN1'l.NCE NO. 765 <br /> AN ORDINANCE AUTHORIZING THE ESTABLISHMENT <br /> OF A PLAN OR SYSTEM PURSUANT TO SECTION <br /> 24-51-704 (5), COLORADO REVISED STATUTES, <br /> 1973, UNDER THE SOCIAL SECURITY ACT FOR THE <br /> CITY OF LOUISVILLE. <br /> HHEREAS, the 50th General Assembly of the State of Colorado, <br /> in regular session, enacted Chapter 223, 1975 Session Laws, to authorize <br /> a political subdivision to establish a plan or system, as required under <br /> Section 209(b) of the Social Security Act, as amended, whereby such <br /> political subdivision may exclude from wages, for social security <br /> reporting purposes, such payment made under such plan or system provided <br /> such plan or system is approved by the Division of Employment and Train- <br /> ing of the Department of Labor and Employment; and, <br /> WHEREAS, it is the opinion of the City Council of the City <br /> of Louisville that such plan or system will be of benefit to the City <br /> of Louisville by alleviating its costs for personal services of its <br /> employees; and, <br /> WHEREAS, such plan or system will be of benefit to employees <br /> of the City of Louisville. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br /> CITY OF LOUISVILLE, COLORADO: <br /> Section 1. The following section is hereby added to Chapter <br /> 2.68 of Title 2 of the Louisvi.lle Municipal Code: <br /> 2.68.090 Social Security Plan Establishment <br /> That a plan or system shall be established to exclude from <br /> wages, for social security reporting purposes only the amount of any <br /> payment made by the City of Louisville (including any amount that may <br /> be paid for insurance or annuities, or into a fund, to provide for any <br /> such payment) made to, or on behalf of, an eligible employee or any of <br /> his dependents as the plan or system may provide, on account of, (1) <br /> retirement; or (2 ) sickness or accident disability; or ( 3 ) medical or <br /> hospitalization expenses in connection with sickness or accident <br /> disability, or in connection with sickness or accident disability; or <br /> ( 4 ) death, and that for sick pay purposes (as defined in Section 24-51- <br /> 701(6.5), Colorado Revise~ Statutes, 1973, as amended (1975 Supp.) such <br />