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r <br /> Resolution No. 7338 <br /> A Resolution Authorizing the Implementation of a Service or#,// <br /> Convenience Fee on Credit and Debit Card Transactions <br /> WHEREAS,the volume of credit and debit card transactions has grown substantially over the past <br /> several years; and <br /> WHEREAS, the trend towards increased use of credit and debit cards as a mode of payment is expected <br /> to continue; and <br /> WHEREAS, the City incurs significant costs associated with processing credit and debit card transactions; <br /> and <br /> WHEREAS, implementing a service or convenience fee was identified during the 2019 Operating Budget <br /> development process as a means to reduce costs; and <br /> WHEREAS,the City may offset credit and debit card processing by assessing a service fee, which would <br /> be based on a percentage of sale, or a convenience fee, which would add a fixed amount for every <br /> transaction; <br /> NOW,THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVERETT <br /> Section 1. Service or Convenience Fee <br /> The Finance Director-Treasurer is authorized to implement a Service Fee or Convenience Fee to offset <br /> the cost of processing credit and debit card transactions. <br /> Section 2. Service or Convenience Fee Amount <br /> The initial Service Fee will be 2.3 percent of the gross transaction amount. The Swim Center will charge <br /> a Convenience Fee in the initial amount of$0.75 per transaction. <br /> Section 3. Service or Convenience Fee Adjustment <br /> The Finance Director-Treasurer will monitor credit and debit card-processing fees relative to processing <br /> costs, and adjust the fees annually as necessi in order for the City to collect the a..r.priate amount <br /> to offset credit and debit card-processing '.st . ` . . <br /> �9'uncil Member I °roducing the(Aes•lution <br /> Passed and approved this 6 day of February, 2019 / <br /> <4\°1,14.12A— <br /> City Council President <br />