1. Every city shall have the power to establish by executive order of the mayor or by resolution of the local governing body, a blood credit system for the purpose of providing blood and related benefits for employees of such city or of any corporation, agency or institution receiving financial support from such city, and the families or dependents of such employees, as defined in such executive order or resolution. Such executive order or resolution may:

1. (a) Establish the eligibility requirements for and the terms and conditions of membership in such system;
2. (b) Prescribe the method of organization of the system;
3. (c) Fix the cost of membership, to be paid either in money or blood donation;
4. (d) Prescribe the blood bank arrangements to be made with blood bank organizations;
5. (e) Prescribe the methods of administration and financial management, including provision for payroll deductions of membership fees;
6. (f) Prescribe the benefits to be provided by the system;
7. (g) Establish a central blood credit administration unit in the department of personnel or other appropriate department of the city for the purpose of administering the operational activities of the system, and appoint or authorize the appointment of such officers or employees of the city as may be necessary to carry out the functions of such unit;
8. (h) Provide for the payment by the city of such sum as may be necessary to pay the initial administrative cost of setting up the system and the program, within the amounts appropriated therefor;
9. (i) Provide that employees who are members of the blood credit system and who retire shall be permitted to retain membership voluntarily at such terms as may be prescribed by such order or resolution;
10. (j) Contain such other terms, conditions and provisions as may be necessary to enable the system to provide blood and related benefits to the members of such system and their families or dependents which shall bear a reasonable relationship to the cost of membership and will enable the system to be self-supporting.