Fiscal Note
Anticipated revenues of $25,000 are included in the 2010 Treasurer's Operating Budget.
Title
SUBSTITUTE Creating Section 4.05(3) of the Madison General Ordinances to create a fee to allow City Treasurer to recover the costs of providing the convenience of an electronic payment option to those owing monies to the City.
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DRAFTER'S ANALYSIS: This ordinance would require the Treasurer to start charging a fee of not less than twenty-five (25) cents for every payment made to the City by electronic transfer of funds (ETF). This fee allows the City to recoup the costs of providing this service to those users who desire the convenience of paying fees and taxes through the internet.
*********************************************************************************** The Common Council of the City of Madison do hereby ordain as follows:
Subsection (3) entitled "Electronic Payment Transaction Fee" of Section 4.05 entitled "Receiving of Monies--Receipt for Same" of the Madison General Ordinances is created to read as follows:
"(3) Electronic Payment Transaction Fee. The Treasurer may accept payment by credit card, debit card or any other electronic payment mechanism of a fee or tax that is required to be paid to the City. The Treasurer shall decide which fees and/or taxes may be paid by credit card, debit card or any other electronic payment mechanism and the manner in which the payments may be made. If the Treasurer permits the payment of a fee or tax by credit card, debit card or any other electronic payment mechanism, the Treasurer may charge a transaction fee for each transaction in an amount of not less than twenty-five cents ($0.25) United States Currency."