BOARD02430

• Board Meeting Date: 5/24/2004
• Description: CF Section - Financial Matters - Lending Rate Structure for FY 2005
• Board Meetings - Doc Type: Memo

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The rates shown in Table 1 below are calculated based on Financial Policy #7.

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Table 1
Proposed Lending Rates for FY 2005

Tvne of Loan
CommerciallIndustrial
Munici al Hi Income
Munici a1 Middle Income
Munici al Low Income
Agricultural

Interest Rate
5.25%
4.25%
4.00%
3.50%
2.50%

The following Table 2 summarizes the annual lending rates adopted by the Board since 1999.

Table 2
30- Year Lending Rates, 1999 - 2004

T e of Loan
CommerciallIndustrial
Munici al High
Munici a1 Middle
Municipal Low
Agricultural

1999
5.75%
5.25%
4.75%
3.75%
3.75%

2000
6.00%
5.50%
5.00%
4.00%
4.00%

2001
6.50%
6.00%
5.50%
4.50%
3.50%

2002
5.75%
4.75%
4.25%
3.75%
2.75%

2003
6.00%
4.75%
4.25%
3.75%
2.75%

2004
5.50%
4.50%
4.00%
3.50%
2.50%

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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, 2004 through June 30, 2005.

Attachment

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Flood Protection. Water Project Planning and Financing. Stream and Lake Protection
Water Supply Protection. Conservation Planning