HUTCHINSON, Kan. — With the first rounds of bids on the sports arena project set to be 
opened Thursday, there was good news regarding the funding for the project.
City Finance Director Frank Edwards told the City Council that the interest rates on the more than $26 million in bonds came in at just 1.52 percent. That’s much lower than the 2.1 percent predicted for the bond sale.
That means the city will save about $1.8 million dollars on the life of the bonds. City manager John Deardoff said that even with a downturn in sales tax revenue the bonds could be paid off in a little over eight years instead of the projected 10.
Edwards said 10 bidders were on hand to participate in the bond purchase.