MEDFORD, Ore. -- Medford School District voters will consider a school bond levy after the Medford School District Board of Directors voted in favor of placing the issue on the May 2018 ballot.
If the bond measure passes, it would:
- Build Career and Technical Education (CTE) classrooms and laboratories for Plumbing, Electrical, HVAC (Heating, Ventilation and Air Conditioning), and Carpentry at North Medford and South Medford high schools.
- Build parking, fencing, and sidewalks for the facilities.
- Pay bond issuance, demolition and other building costs, such as architectural, plan design and professional services on the project.
- Provide equipment for the facilities; work benches, vacuum systems, air compressors, ventilations systems, as well such as industry specific equipment used for high school CTE construction programs.
The result would be an increase from $1.57 to $1.69 per $1000 of taxable property value. For a house assessed at a property value of $265,000, the additional cost would be $32 per year.
The new bonds would mature in 21 years or less from issuance date and may be issued in one or more series.
The District considered other options to obtain funds, such as directly financing $3 million to $5 million for a remodel of existing spaces at North and South High Schools, utilizing a smaller set of course offerings and using proceeds from its Construction Excise Tax to offset loan payments.
The District budgeted to receive approximately $1,000,000 in Construction Excise Tax (CET) funds in 2017-18. Excise tax proceeds are currently being utilized by the District to offset General Fund costs for ongoing maintenance of already existing facilities.
If the bond measure does not pass, the District would continue with current sections of Electrical and Plumbing education curriculum and lab experience within its existing spaces with no additional programs for HVAC and Carpentry. The property tax rate for existing bonds would remain at current levels.
For more information on the bond and list of frequently asked questions, visit www.medford.k12.or.us/bond.