HUTCHINSON, Kan. — Under a bond sale receiving final approval by the Hutchinson school board Monday, taxpayers will save payments of $684,508.33 over the remaining life of the bond issue. The board met in regular session at Hutchinson Middle School 7.
Officials with the district say they have aggressively refinanced bonds to save taxpayers money. While limited by law to the number and timing of refinancing bonds, the district began refinancing bonds in 2007, looking for lower interest rates.
Most years, the district has been able to refinance a portion of the $78.8 million of bonds issued in early 2007.
The 20-year bonds are scheduled to be repaid in 2027.