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<br />",', \ <br />,'1 <br /> <br />Agenda Item 18 <br />January 13, 1995 <br />Page 2 <br /> <br />i".', <br />" <br /> <br />c. The High Income Rate would be 10 percent higher than the Standard Lending <br />Rate for areas where the median household income is more than 110 percent of <br />the Colorado median household income. <br /> <br />2. Agricultural loan rates and terms would be identical to the Low Income Rate and terms for <br />municipal loans. <br /> <br />3. Commercial loan rates and terms would be identical to the High Income Rllte and terms <br />for municipal loans. . <br /> <br />Based on a Standard Lending Rllte of 5.0 percent as adopted at the November 1994 meeting, <br />the following rate structure results: . <br /> <br />While the proposed interest rate structure was used for all loans approved at the November <br />1994 meeting, it was not formally adopted by the Board at that time. The staff recommends <br />that: <br /> <br />< <br /> <br />1. The preceding interest rate structure be formally adopted by the Board for all loans to be <br />recommended to the General Assembly in 1995 with the qualification that the Board may. at <br />it's discretion, recommend a different rate based upon special circwnstances for any individual <br />project. <br /> <br />2. Section 1.3.2 (page four) of the August 1994 Construction Fund Guidelines be revised to <br />read as follows: <br /> <br />c. At the last Board meeting of each calendar year. the CWCB staff will present <br />to the Board a summarY of the yield on 30-vear U.S. Treasury Bonds for the <br />oreceding twelve months. Based on this summarY. the staff will recommend to <br />the Board a Standard 30- Year Lending Rate for Construction fund orojects <br />which are to be recommended to the General Assembly in the following <br />calendar vear. '. <br />