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10. 12. ~4~)~ id Xetirement at m aa Public J.&ency ahi~4-~buteto ii S¥ · follove~ I. ¥~th respect to local ~s~r~eoua lembera~ ~he i~enoy ~al~ contribute the follovZng pi~es of mon~ly aal~Zea.earned (1) 0,172 percent ~til J~ne )0, 2000 on account of ~he lia- bility ~or prio~ service benefl~a. (SubJ~ ~ annua~ change.) (2) 1#.507 percent until June 30, 2000 on account of the lia- bility for current service benefits. (Subject to annual change.) With respect to local ~afety members, the agency shall contribute the following percentages of monthly aalariea earned aa local safety membera of said Retirement System= (1) 27.~00 percent until June 30, 2000 on account of the lia- bility for current s?vice benefits. (Subject to annual change.) A reaeonable amount, aa fixed by the Board, payable in one atall~ent within 60 days of date of contract to cover the costa of administering said System as it affects the employees of Public Agency, not including the costs of special valuations or of the periodic investigation and valuations required by law. A reasonable amount, as fixed by the Board, payable in one in- stallment as the occasions arise, to cover the coats of special valuations on account of e~ployees of Public Agency, and costa o£ the periodic lnveatlgatlon and valuations required by law. Contributions required of Public Agency and its employees shall be subject to adJuatment by Board on account of amendmenta to the Public r~ployees' Retirement Lay, and on account of the experience under the Retirement System as determined by the pertodlc investigation and valuation required by said Retire~ent Law. Contributioqs required of Public Agency and its e;ployees shall be paid by Public Agency to the Retirement Syetem within thirty days a~ter the end of the period to w~lch said contributions reffer or as may be prescribed by Board regulation. If more or leas than the cor- rect amount of contributions is paid for any period, proper adjustment shall be made in connection w/th subsequent remittances, or adjust- meets o~ account of errors in contributions required off any employee may be made by direct cash payments between the e~ployee and the Board.