Item 9AResolution No. 06-042
July 18, 2006
Resolution No. 06-042
Staff has received multiple request from residents, developers, contractors and other city customers to pay taxes, fines or fees with credit cards.
The most recent request is related to the Stampede 50th Anniversary program.
There are several potential donors that have expressed an interest to purchase a longhorn but requesting to use a credit card.
Resolution No. 06-042
Standard contracts with credit card companies expressly deny the city the opportunity to recoup from its’ customers transaction and administrative fees charged to the city.
The transaction and administrative fee per transaction is 3.75% or less of the total charge.
The margin between the sponsorship fee and the cost of the longhorn/calf is sufficient to cover the credit card fees. The city would not be required to absorb ANY fees related to the
program.
Resolution No. 06-042
Approval of Resolution No. 06-042 would authorize the City Manager or designee to execute the necessary agreements to permit the city staff to accept credit cards as payment.
QUESTIONS?