By Richard Bammer

A special meeting within a regular meeting, the second interim budget report for 2014-15, and a state-of-the-school update on Will C. Wood High are on the agenda when Vacaville Unified leaders meet tonight.

After a closed session, the seven-member governing board will recess to hold a public facilities financing corporation special meeting to hear a report about the district’s certificates of participation refunding. (Certificates of participation are financial products used by government entities, such as city councils or school boards, allowing for the purchase of a share of the lease revenues of an agreement made by the government entities.)

A representative from Isom Advisors, a Walnut Creek firm which provides financial advice to a number of California school districts, will make the presentation. In short, it will show how much the district will save — notably an estimated $4.5 million — by refunding the certificates at a lower interest rate, between 0.3 percent and 3.72 percent instead of 4.75 percent and 7.25 percent, the latter being 2008 rates.

via Budget, Wood High School report on Vacaville Unified School District agenda tonight.