BOARD01924

• Board Meeting Date: 11/19/2001
• Description: CF Section - Lending Rate Structure for 2002
• Board Meetings - Doc Type: Memo

The rates shown in Table I below are based on the current Policy #7.

Table 1

T e of Loan
Commercial/Industrial
Munici al Hi h Income
Munici al Middle Income
Munici al Low Income
A ricultural

Interest Rate
6.00%
5.50%
5.00%
4.00%
3.50%

The rates shown in Table 2 below are based on the proposed revised Policy #7.

Table 2

T e of Loan
Commercial/Industrial
Munici al Hi h Income
Munici al Middle Income
Munici al Low Income
A ricuitural

Interest Rate
6.00%
5.00%
4.50%
3.75%
3.25%

The following Table 3 summarizes the: annual lending rates adopted by the Board
since 1996.

Table 3

30-Year Lendinl!: n.ates, 1996 - 2001
Tvne of Loan 1996 1997 1998 1999 2000 2001
Commercial/Industrial 5.75% 5.25% ~.25% 5.75% 6.00% 6.50%
Municinal High 5.75% 5.25% 5.75% 5.25% 5.50% 6.00%
Municinal Middle 5.25% 4.75% 5.00% 4.75% 5.00% 5.50%
Municipal Low 4.25% 3.75% 4.00% 3.75% 4.00% 4.50%
Agricultural 4.25% 3.75% 4.00% 3.75% 4.00% 3.50%

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 either Table I or Table 2
for all loans recommended to the General Assembly or approved by the Board from
November 2001 through June 30, 2002.

Attachment

2

i

e

e

.e