PUB00134

• Year: 1998
• Title: Construction Fund Annual Report 1998
• CWCB Section: Finance
• Author: CWCB
• Description: Construction Fund Annual Report 1998
• Publications - Doc Type: CF Annual Report

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percent of the statewide MHI. the lending rate will be lO-percent above the standard rate.

For loans with maturities of 20 years or less, but more than 10 years. the rate may be reduced
by one quaner of one percent below the 3D-year rate for that category of lending. For loans with
maturities of 1 0 years or less, the lending rate may be reduced by one half of one percent below the
30-year rate for that category.

In 1\ovember 1997, the Board changed the rate setting procedure to be based on the average yield for
the 30-year "A" Municipal Bond for the preceding 12 months. The Board. adopted the follo\\ing interest
rates for standard loans recommended to the General Assembly in the respective years of the table.

TABLE 11
C'''CB 3D-Year Lending Rates

, Type of Loan 1973 -1992 1993-1995 1996 ' 1997 1998
'.
Agricultural 5.00% -t.OO% 4.25% 3.75% .tOO%
Municipal. Low 5.00% 4.00% 4.25% 3.75% 4.00%
Municipal - Middle 5.00% 5.00% 5.25% 4.75% 5.00%
Municipal - High 5.00% 5.50% 5.75% 5.25% 5.75%
Commercial 5.00% 5.50% 5.75% 5.25% 6.25%

e\\"es FY98 Annual Repon. page ~5