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<br />',". .,
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<br />~For Immediate Release
<br />(July 13, 1971)
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<br />Steucke
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<br />254-6303
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<br />DISCOUNT RATE RAISED TO 5-3/8%
<br />
<br />W. Don Maughan, Director of the Water Resources Council, today announced
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<br />that the interest rate to be used by Federal agencies in the formulation and
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<br />evaluation of plans for water and related land resources is 5-3/8 percent for
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<br />the period July 1, 1971, through and including June 30, 1972.
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<br />The rate has been computed in accordance with section 704.39 of the rules
<br />and regulations of the Water Resources Council, 18 CFR 704.39, and is to be
<br />used by all Federal agencies in plan formulation and evaluation of water and
<br />related land resources projects for the purpose of discounting future benefits
<br />and computing costs, or otherwise converting benefits and costs to a common
<br />time basis.
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<br />The interest rate shall apply to all Federal and Federally assisted water
<br />and related land resources project evaluation reports submitted to the Congress,
<br />or approved administratively, after the close of the 90th Congress, subject,
<br />however, to the provisions of 18 CFR 704.39(d) regarding projects authorized
<br />prior to the close of the second session of the 90th Congress where State or
<br />local governmental agencies have given, prior to December 31, 1969, satisfactory
<br />assurances to pay the required non-Federal share of project costs.
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<br />xxx
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<br />The United States Waler ReSOUfr~s Council. M Independent Executive Agency 0' the U.S. Government. is r:ompased of the Secretaries of Inlerior: Agriculture;
<br />Army: Health, Edlll ;jliol':. and W~lf.1rc: Transportation: Chairman, Federal Powel Commission: with participation by the Secretafles of Commerce; Housing
<br />and Urban Development. AdmiOlslr,1101, Environmental Protection Agency: AtlOlncy General; Direclor, OllicE: of Management and Budgel: Chairman, Gouncil on
<br />Environmental Qtl;,lily: and the Ch"mnen, RI"er Basin Commissiuns. CounCil actrvlh~') encourage the conservation, development and utilization of water and
<br />related land resource~ on a compre1lcnsive and coordinated basis by Federal, State, iotal government and private enterprise.
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