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b. A reasonable amount, as fixed by the Board, payable in one installment as <br /> the occasions arise, to cover the costs of special valuations on account of <br /> employees of Public Agency, and costs of the periodic investigation and <br /> valuations required by law. <br /> 10. Contributions required of Public Agency and its employees shall be subject to <br /> adjustment by Board on account of amendments to the Public Employees' <br /> Retirement Law, and on account of the experience under the Retirement System <br /> as determined by the periodic investigation and valuation required by said <br /> Retirement Law. <br /> 11. Contributions required of Public Agency and its employees shall be paid by <br /> Public Agency to the Retirement System within fifteen days after the end of the <br /> period to which said contributions refer or as may be prescribed by Board <br /> regulation. If more or less than the correct amount of contributions is paid for any <br /> period, proper adjustment shall be made in connection with subsequent <br /> remittances. Adjustments on account of errors in contributions required of any <br /> employee may be made by direct payments between the employee and the Board, <br /> B. This amendment shall be effective on the 1st day of- July ) 1998 <br /> BOARD OF ADMINISTRATION TOWN COUNCIL <br /> PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF THE <br /> TOWN OF LOS ALTOS HILLS <br /> BY <br /> BY -:�, <br /> KENNETH W. MARZION, CHIEF PRESIDING OFFICER— <br /> ACTUARIAL & EMPLOYER SERVICES DIVISION <br /> PUBLIC EMPLOYEES' RETIREMENT SYSTEM <br /> June 18, 1998 <br /> Witness Date <br /> Attest: <br /> Clerk <br /> AMENDMENT <br /> PERS-CON-702A(Rev.8\96) <br />