Explanation
BACKGROUND: It is necessary for the Columbus City Treasurer to modify and extend its existing contract with Fifth Third Bank for the provision of credit card services required for the processing of water bill payments over the Internet. Such services currently may only be provided by Fifth Third Bank as the software running the payment engine maintained by the Division of Power and Water was written specifically for Fifth Third Bank and its gateway, Verisign. The Department of Public Utilities anticipates the completion of a new payment engine, currently in development, in 2008 that will facilitate the processing of payments through First Data, which currently processes other credit card payments for the City of Columbus through a contract with Huntington Merchant Services.
Contract Compliance Number: Fifth Third 310740333 expiration 10/20/2008
FISCAL IMPACT: Funds for this contract are available within the Department of Public Utilities, Division of Operational Support 2007 appropriations.
EMERGENCY: This ordinance is submitted as an emergency to allow the financial transaction to be posted in the city's accounting system as soon as possible. Up-to-date financial posting promotes accurate accounting and financial management.
Title
To authorize the City Treasurer to modify and extend the contract with Fifth Third Processing Solutions for Credit Card Processing banking services on the behalf of the Department of Public Utilities; to authorize the expenditure of up to $160,000.00 from the Department of Public Utilities, Division of Operational Support, water, sanitary sewer, storm sewer and electricity operating funds; and to declare an emergency ($160,000.00).
Body
Whereas, the City Treasurer wishes to extend the contract for credit card processing banking services with Fifth Third Processing Solutions to facilitate the processing of payments over the Internet; and
Whereas, as an emergency exists in the usual daily...
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