Medford Plans Surcharge on Utility Fees to Fund Public Safety Buildings
A proposed $32 million bond to fund a new Medford Police Station and three additional firehouses would be paid for by adding a surcharge to utility fees over a 30-year period and should not require voter approval according to the Medford City Council.
The fees would raise $2 million a year for the bond which would have an interest rate of 4.75 percent.
The surcharge would increase utility bills by $2 a month for the first year, rising over time eventually hitting $4.82 per month by the fifth year. Other existing fees, such as a $2.82 street fee would decline. The net effect is that by the end of five years, the overall utility fees would rise from $49.71 to $51.79 monthly.
The council has the authority to raise utility fees and didnít want to seek voter approval for the bond because any delay could mean higher interest rates. Other fees for public works and parks are being considered.