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half (1-1/2) times the employee' s regular rate of <br /> pay. <br /> B . Should the Police Chief determine that the best <br /> interests of the City will be served thereby, he or <br /> his designee may permit an employee to be <br /> compensated for overtime work by taking paid <br /> compensatory time off at the rate of one and one- <br /> half (1-1/2) times the employee' s regular rate of <br /> pay. <br /> C. Eligible employees may convert time and one-half (T <br /> 1/2) paid overtime to time and one-half (T 1/2) <br /> compensatory time off, with the prior permission of <br /> the employee' s supervisor and subject to the <br /> operational needs of the department . This <br /> conversion shall be limited to the accumulation of <br /> eighty (80) hours of earned, unused compensatory <br /> time off benefits . <br /> Twice during each calendar year, on March 15th and <br /> November 15th, each affected employee having <br /> accrued compensatory time off credits, may elect to <br /> convert up to forty (40) hours of such accrued time <br /> off credits to the cash equivalent thereof , to a <br /> maximum of eighty (80) hours per calendar year. <br /> D. Time off with pay to compensate for overtime worked <br /> may be accumulated, subject also to limitations <br /> herein elsewhere provided, to a maximum of eighty <br /> (80) hours . <br /> E. Because each hour of overtime worked is <br /> programmatically accrued on a time and one-half (T <br /> 1/2) basis, compensatory time off will be taken, <br /> and monetary payment will be paid, on a straight- <br /> time basis . Also, upon termination, any earned, <br /> unused compensatory time off ( "time-on-the-books" ) <br /> will be paid on a straight-time basis . <br /> 8 . 5 Incremental Usage . Time off with pay to compensate for <br /> overtime worked may be taken in increments as small as <br /> one-half (1/2) hour. <br /> 8 . 6 Excess Usage . If compensatory time off is used in excess <br /> of that available, such excess compensatory time off will <br /> first be deducted from any available vacation benefits <br /> and finally, deducted from the next scheduled wage or <br /> salary payment . <br /> 8 . 7 No Effect on Other Benefits . Overtime work shall not <br /> apply to the earning of employee benefits (retirement , <br /> 25 <br />