The Hutchinson School Board Monday heard a report on bond refinancing that could save district taxpayers more than $400,000.

Historically low interest rates will mean refinancing a portion of bonds used for the 2006 bond issue could result in district taxpayers saving $429,475 over the life of the bond. The interest rates on the bonds – issued in 2007 – was 4.5 percent, which was very low at the time. Now rates are estimated at 2.23 percent.

The board took no formal action, but Greg Vahrenberg of Piper Jaffray & Co. recommended refinancing later this fall with closing on the refinanced bonds in early 2013.

In other action, the board approved an out-of-state student activity requests for the Hutchinson High School choir to compete at San Antonio, Texas, May 2 to 6 and an International Baccalaureate theater trip to Lee Summit, Mo.

They also approve the use of $100,000 of at-risk money to purchase library books. All the district’s K-12 building libraries will receive books under the plan with half purchased this month and half purchased in the spring.

They agreed to an agreement between Head Start and Horizons Mental Health Center for services.

They also approved bids on two eight-passenger vans from Midwest Superstore, which had the low bid of $23,447 per van for a total of $46,894. The money comes from district capital outlay funds.

They also approved the contract with Reno County Educational Cooperative to provide mobility services for four students.