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<br /> <br />- 2- <br /> <br />Table 1 <br />Proposed Lending Rat~s for FY 2004 <br /> <br />e <br /> <br />Tvoe of Loan <br />Commercial/Industrial <br />Munici al Hi Income <br />Munici a1 Middle Income <br />Munici al Low Income <br />A . cultural <br /> <br />Interest Rate <br />5,50% <br />4.50% <br />4.00% <br />3.50% <br />2,50% <br /> <br />The following Table 2 summarizes the annual lending rates adopted by the Board since 1998, <br /> <br />Table 2 <br />30- Year Lending Rates, 1998 - 2003 <br /> <br /> . <br />Type of Loan 1998 1999 2000 2001 '2002 2003 <br />CommerciallIndustrial 6.25% 5,75% 6,00% 6.50% 5.75% 6.00% <br />Municina1 High 5,75% 5.25% 5.50% 6.00% 4.75% 4.75% <br />Municipal Middle 5.00% 4,75% 5,00% 5.50% 4.25% 4.25% <br />Municipal Low 4.00% 3.75% 4.00% 4.50% 3,75% 3.75% <br />Agricultural 4.00% 3.75% 4,00% 3.50% 2.75% 2.75% <br /> <br />e <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 T~b1e 1 for all loans recommended to the General <br />Assembly or approved by the Board from July 1,2003 through June 30, 2004. <br />! <br /> <br />Attachment <br /> <br />e <br /> <br />Flood Protection. Water Project Planning ~d Financing. Stream and Lake Protection <br />Water Supply Protection'. Conservation Planning <br /> <br />