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• Board Meeting Date: 5/21/2008
• Description: CF Section - Financial Matters - New Loan Lending Rate Structure for FY 2009
• Board Meetings - Doc Type: Memo

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The rates shown in Table 1 below are calculated based on Financial Policy #7.
Table 1
Proposed Lending Rates for FY 2009
Type of Loan Interest Rate
Commercial/Industrial 5.50%
Municipal High Income 4.50%
Municipal Middle Income 4.00%
Municipal Low Income 3.50%
Agricultural 2.50%
The following Table 2 summarizes the annual lending rates adopted by the Board since 2002.
Table 2
30-Year Lending Rates, 2002 - 2008
Type of Loan 2002 2003 2004 2005 2006 2007 2008
Commercial/Industrial 5.75% 6.00% 5.50% 5.25% 5.25% 5.25% 4.75%
Municipal High 4.75% 4.75% 4.50% 4.25% 4.25% 4.25% 4.00%
Municipal Middle 4.25% 4.25% 4.00% 4.00% 3.75% 3.75% 3.50%
Municipal Low 3.75% 3.75% 3.50% 3.50% 3.25% 3.25% 3.00%
Agricultural 2.75% 2.75% 2.50% 2.50% 2.50% 2.50% 2.25%
Recommendation
Staff recommends that the Board adopt the schedule of 30-year lending rates based on the
Board approved Financial Policy #7, as shown in Table 1 for all loans recommended to the General
Assembly or approved by the Board from July 1, 2008 through June 30, 2009.
Attachment
Flood Protection • Water Project Planning and Financing • Stream and Lake Protection
Water Supply Protection • Conservation Planning