Private Acts of 1943 Chapter 437

SECTION 1.  That the County of Carroll be and it is hereby authorized to make the necessary contracts with any insurance company or companies authorized to do business in the State of Tennessee to provide for the retirement of the public school teachers of the County of Carroll from active service, and to provide group annuity, insurance, pensions or retirement allowances for teachers thus retired.

SECTION 2.  That the contract or contracts referred to in Section 1 shall provide fo rthe [sic] payment of the teachers' share of the maintenance cost by making payroll deductions from the salaries of teachers by the County of Carroll, and the County of Carroll is hereby authorized to make such deductions from such salaries.

SECTION 3.  That the contract or contracts referred to in Section 1 shall also provide for the County of Carroll to make financial contributions to the cost of maintaining the group pension or retirement system, and the County of Carroll is hereby authorized to make such contributions.

SECTION 4.  That the County of Carroll is hereby given authority to take all necessary steps for inaugurating and maintaining said group pension or retirement system.

SECTION 5.  That the power or authority vested by this Act in the County of Carroll may be exercised by resolution adopted by the affirmative vote of a majority of the entire membership of the Quarterly County Court of the County of Carroll at any regular meeting of said Court.  The amount or proportion of the teachers' contribution to the cost of said system, the amount or proportion of the County of Carroll's contribution thereto and all provisions of such contract or contracts may also be fixed by such resolutions, and such resolution may authorize and direct the proper officials of the County of Carroll to execute said contract or contracts and provide for the carrying of the same into effect.

SECTION 6.  That all laws or parts of laws in conflict herewith, be and the same are hereby repealed, and that this Act take effect from and after its passage, the public welfare requiring it.

Passed:  February 10, 1943.