Politics & Government

Lower Merion Weighs Options for $6.9 Million

Commissioners also voted unanimously to refinance bonds.

Lower Merion commissioners discussed at a Wednesday evening finance workshop how to allocate .

Among the options propsed and presented by Lower Merion Chief Financial Officer Dean Dortone are no tax increase for 2013, refinancing, , a length of service awards program for township volunteer firefighters and allowing citizens to pay township fees online.

Commissioner Scott Zelov expressed his preference for the first two options presented: "funding our general fund to reduce future tax increases and funding capital fund to reduce future borrowing."

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Commissioner Lew Gould emphasized they should not be considering new spending ideas.

"It's a fact that residents were overcharged," Gould said. "That revenue has now come in. It's very easy to forget where this money comes from and where its purpose is."

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There will be a public meeting on the matter in March.

Bond Refunding

In a special meeting of the finance committee immediately after the finance workshop, commissioners recommended that staff pursue a bond refinancing opportunity.

Refunding about $14 million in general obligation bonds would generate around $818,000 or 5.8 percent of the refunded bonds, according to a memorandum written by Dortone.

In a special meeting of the Board of Commissioners immediately following the finance committee meeting, commissioners unanimously passed the resolution.


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