Selectmen have signed off on a ratified police union contract, and also plan to restore roughly $40,000 to preserve a police position that was to be eliminated because of a recent failed override. Town Administrator Tracy Blais told selectmen at a meeting in June that the town’s last contract with police expired on June 30, 2009, and members of the department have gone for more than four years without any raise. Under the new contract, they will receive a 1 percent increase in fiscal 2013, which begins Sunday, and 2 percent increases in fiscal 2014 and 2015. Meanwhile, Blais said she expected that negotiations with the Police Department on health insurance plans will save the town about $40,000. At her suggestion, selectmen approved reinvesting any money saved to preserve a position that was to be cut as a result of a failed $293,000 override this spring.