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A. The preferable method by which overtime shall be compensated is by monetary <br />payment, at one and one-half (11/2) times the employee's regular rate of pay. <br />B. Should the Police Chief determine that the best interests of the City will be <br />served thereby, he or his designee may permit an employee to be compensated for <br />overtime work by earning paid compensatory time off at the rate of one and one- <br />half (1 1/2) times the employee's regular rate of pay. The employee will be <br />credited with time off at the rate of one and one-half (1 1/2) hours of time for <br />each hour of overtime worked. This time, hereinafter identified as "comp time" <br />will be accrued in a comp time bank for each employee. The hours in this bank shall <br />reflect the converted time value of each hour worked. <br />1. Effective January 1, ~A9~ 2010, employees are limited to the accumulation of <br />X9160 hours of comp time. <br />2. Twice during each calendar year, beginning April 15 and ending April 30 and <br />beginning November 15 and ending November 30, each affected employee who <br />has accrued comp time credits, may elect to convert up to forty (40) hours of <br />such accrued time to the cash equivalent thereof, to a maximum of eighty (80) <br />hours per calendar year. <br />AMENDED ARTICLE IX (new language in bold; deleted provisions lined out) <br />9.0 HOLIDAYS <br />9.2 Holidny Leave Benefits. <br />Full-time, permanent and probationary employees covered by this Agreement shall be <br />entitled to receive 96 hours off during the calendar year in lieu of the twelve (12) holidays <br />specified in Section 9.1, supra. Said hours, up to a maximum of 80 hours, may be <br />carried over from one calendar year to the next and shall be cashed out upon <br />separation from employment, not to exceed a maximum of 160 hours. Said Employees <br />required to work on a City observed "legal" holiday shall be paid at his or her straight time <br />rate. <br />However, if an employee who separated from the service of the City has taken time off <br />for holidays in advance of the date or day the holiday actually occurred, he or she must <br />pay the City the cash value for such used but unearned holiday time off benefits prior to <br />or at the time of separation. <br />25C-6 <br />