[Adopted 2-2-1953 by Ord. No. 395 (Sec. 260.03 of 1982 Code)]
A. 
The proper officers of Council shall execute and deliver to the State Social Security Agency a plan and agreement, required under Section 6 of Act No. 491 of 1951, as amended, and the Social Security Act, to extend coverage of employees and officers of the Borough and to do all other necessary things to effectuate coverage of employees and officers under the Old Age and Survivors Insurance System.
B. 
The Borough Secretary shall establish a system of payroll deductions to be matched by payments by the Borough to be made into the contribution fund of the Social Security Act through the office of the State Social Security Agency, and to make charges of this tax to the fund from which wage or salary payments are issued to employees of the Borough. Such payments shall be made in accordance with the laws and regulations promulgated by the State Social Security Agency and the Federal Social Security Administrator. Such payments which are delinquent shall bear interest at the rate of 1/2 of 1% per month until such time as payments are made.
C. 
An appropriation is hereby made from unappropriated funds in the general fund of the Borough in the necessary amount to pay into the contribution fund as provided in Section 4 of Act No. 491 of 1951, as amended, and in accordance with the plan and agreement. Further, the Mayor and the Secretary are hereby authorized and directed to enter into an agreement with the State Social Security Agency, which agreement shall be in accordance with such Act and with paragraph 218 of the Social Security Act. Such plan and agreement shall provide that the participation of the Borough shall commence as of January 1, 1951.