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<br />-11- <br /> <br />Options: <br />(1) Fix the interest rate for a period of time <br /> <br />greater than one year. <br /> <br />(2) Enlarge the limits within which the formula <br />rate may change before it is adopted for planning. <br />b. too high or too low -- those favoring short term <br /> <br />gains desire high rates, those favoring long term <br /> <br />gains desire low rates. <br /> <br />Option <br />(1) Adopt a lower (0%-4% rate). <br />(2) Adopt a higher (8%-127.) rate. <br />c. inconsistent in its treatment of old versus new <br />projects. <br />Option: I <br />Eliminate the grandfather clause of S~ction 80(b) of <br />the Water Resources Development Act of 1974, which <br /> <br />permits the use of the rate in effect prior to <br /> <br /> <br />December 1968 for projects authorized prior to <br /> <br />January 3. 1969 and apply current criteria. <br /> <br />2560 <br /> <br />{~ <br />