HUTCHINSON, Kan. – The USD 308 School Board Monday approved the refinancing of a portion of the bonds that voters approved in 2006 for district improvements.

District taxpayers will save about $1.1 million from the refinancing. This is the sixth refinancing of bonds. The total savings of all the refinancing efforts is $4.1 million or the equivalent of more than 19 mills of property tax.

The district is allowed to refinance a portion of the bonds each year when the refinancing will save taxpayers money. Each portion can only be refinanced once after the original issuance of the bonds.

The board also heard a report on summer maintenance for the district. While the students and most staff are away in the summer, buildings bustle with activity.

Major projects during the summer included a parking lot and landscaping at Lincoln Elementary School, a replacement of the chiller unit at HMS-8, a boiler replacement at HMS-7, replaced one of the air conditioning units at the Salthawk Activity Center, replaced other roof-top heating/cooling units at Hutchinson High School, did re-roofing, installed and re-flooring in several buildings and did 5,000 square feet of concrete work.

Staff also did a wide range of other touch-up projects.