§88-126 Certification and payment of county contributions to system. The board of trustees shall certify annually to the councils of each county and to the director of finance of the State the amount due from each county on account of its employees who are members of the system. The council of each county shall include in its annual budget the amount certified to it by the board. The amount shall be paid by the county before October 1 and April 1 of each fiscal year. If the amount or any portion thereof is not paid by the county before October 1 and April 1 of each fiscal year, the director of finance shall retain out of the real property tax money collected for the year a sum equal to the amount or portion thereof not so paid. All the moneys retained and collected by the director of finance shall be deposited in the appropriate fund or funds of the system. The amount of any deficiency in meeting the obligations shall be added to the amount due from the county for the succeeding year. [L 1925, c 55, §8; am imp L 1927, c 251, §4; am imp L 1929, c 182, §1; am imp L 1932 2d, c 50, §1; am L 1933, c 181; am L Sp 1933, c 10, §§2, 3; RL 1935, §7927; am L 1935, c 48, §§2, 4; am L Sp 1941, c 67, §1; RL 1945, pt of §712; RL 1955, §6-102; am L 1957, c 152, §1; am L Sp 1959 2d, c 1, §§12, 14; am L 1963, c 114, §1; HRS §88-117; am L 1969, c 110, pt of §1; am L 1994, c 138, §2; am L 1998, c 151, §17]