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BOARD00163 (2)
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BOARD00163 (2)
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Last modified
8/16/2009 2:46:07 PM
Creation date
7/6/2007 10:38:37 AM
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Template:
Board Meetings
Board Meeting Date
5/22/2007
Description
CF Section - Financial Matters - New Loan Lending Rate Structure for FY 2008
Board Meetings - Doc Type
Memo
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<br />- 2 - <br /> <br />The rates shown in Table 1 below are calculated based on Financial Policy #7. <br /> <br />Table 1 <br />Proposed Lending Rates fOf FY 2008 <br /> <br />Tvpe of Loan Intefest Rate <br />Commercial/Industrial 4.75% <br />Municipal High Income 4.00% <br />Municipal Middle Income 3.50% <br />Municipal Low Income 3.00% <br />Agricultural 2.25% <br /> <br />The following Table 2 summarizes the annual lending rates adopted by the Board since 2001. <br /> <br />Table 2 <br />30- Y eaf Lending Rates, 2001 - 2007 <br /> <br />Type of Loan 2001 2002 2003 2004 2005 2006 2007 <br />Commercial/Industrial 6.50% 5.75% 6.00% 5.50% 5.25% 5.25% 5.25% <br />Municipal High 6.00% 4.75% 4.75% 4.50% 4.25% 4.25% 4.25% <br />Municipal Middle 5.50% 4.25% 4.25% 4.00% 4.00% 3.75% 3.75% <br />Municipal Low 4.50% 3.75% 3.75% 3.50% 3.50% 3.25% 3.25% <br />Agricultural 3.50% 2.75% 2.75% 2.50% 2.50% 2.50% 2.50% <br /> <br />Recommendation <br /> <br />Staff recommends that the Board adopt the schedule of 30-year lending rates based on the <br />Board approved Financial Policy #7, as shown in Table 1 for all loans recommended to the General <br />Assembly or approved by the Board from July 1,2007 through June 30, 2008. <br /> <br />Attachment <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Cqnservation Planning <br /> <br />~. <br /> <br />~- <br /> <br />. <br /> <br />. <br /> <br />. <br />
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