The resolution, titled the "Contract No. CFOPD-17-C-009 Extension and Payment Authorization Approval Resolution of 2026," authorizes the multiyear extension of an existing contract with Paymentech LLC for merchant processing services on behalf of the Office of Finance and Treasury. This extension, approved by the Council of the District of Columbia, will cover a performance period from May 19, 2026, to May 18, 2028, with a total not-to-exceed amount of $10 million.

The resolution is enacted under the authority of the District of Columbia Home Rule Act and the Procurement Practices Reform Act, ensuring compliance with local legislative procedures. Following its adoption, a copy of the resolution will be transmitted to the Chief Financial Officer, and it will take effect immediately. The fiscal impact statement associated with this resolution has also been adopted as required by law.