The Hutchinson School Board Monday night approved refinancing about $8.9 million of bonds. Interest rates are near historic lows and refinancing this portion of the bonds will save interest costs over the life of the bonds. Bonds were originally issued in 2007.

USD 308 taxpayers will save an estimated $656,000 in interest on the bonds issued for the 2006 voter-approved improvements to district schools once refinancing is completed. This current resale of bonds as well as an earlier refinancing is expected to result in combined savings of nearly $1.25 million for district taxpayers.