[Federal Register Volume 63, Number 242 (Thursday, December 17, 1998)] [Notices] [Pages 69611-69612] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 98-33433] ----------------------------------------------------------------------- DEPARTMENT OF AGRICULTURE Rural Utilities Service Municipal Interest Rates for the First Quarter of 1999
Agency
Rural Utilities Service, USDA.
Action
Notice of municipal interest rates on advances from insured electric loans for the first quarter of 1999.
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Summary
The Rural Utilities Service hereby announces the interest rates for advances on municipal rate loans with interest rate terms beginning during the first calendar quarter of 1999.
Dates
These interest rates are effective for interest rate terms that commence during the period beginning January 1, 1999, and ending March 31, 1999.
For Further Information Contact
Carolyn Dotson, Loan Funds Control Assistant, U.S. Department of Agriculture, Rural Utilities Service, Room 0227-S, Stop 1524, 1400 Independence Avenue, SW, Washington, DC 20250-1500. Telephone: 202-720-1928. FAX: 202-690-2268. E-mail: CDotson@rus.usda.gov.
Supplementary Information
The Rural Utilities Service (RUS) hereby announces the interest rates on advances made during the first calendar quarter of 1999 for municipal rate electric loans. RUS regulations at Sec. 1714.4 state that each advance of funds on a municipal rate loan shall bear interest at a single rate for each interest rate term. Pursuant to Sec. 1714.5, the interest rates on these advances are based on indexes published in the ``Bond Buyer'' for the four weeks prior to the third Friday of the last month before the beginning of the quarter. The rate for interest rate terms of 20 years or longer is the average of the 20 year rates published in the Bond Buyer in the four weeks specified in Sec. 1714.5(d). The rate for terms of less than 20 years is the average of the rates published in the Bond Buyer for the same four weeks in the table of ``Municipal Market Data--General Obligation Yields'' or the successor to this table. No interest rate may exceed the interest rate for Water and Waste Disposal loans. The table of Municipal Market Data includes only rates for securities maturing in 1999 and at 5 year intervals thereafter. The rates published by RUS reflect the average rates for the years shown in the Municipal Market Data table. Rates for interest rate terms ending in intervening years are a linear interpolation based the average of the rates published in the Bond Buyer. All rates are adjusted to the nearest one eighth of one percent (0.125 percent) as required under Sec. 1714.5(a). The market interest rate on Water and Waste Disposal loans for this quarter is 5.000 percent. In accordance with Sec. 1714.5, the interest rates are established as shown in the following table for all interest rate terms that begin at any time during the first calendar quarter of 1999.
------------------------------------------------------------------------ RUS rate (0.000 Interest rate term ends in (year) percent) ------------------------------------------------------------------------ 2019 or later........................................ 5.000 2018................................................. 5.000 2017................................................. 4.875 2016................................................. 4.875 2015................................................. 4.875 2014................................................. 4.750 2013................................................. 4.750 2012................................................. 4.625 2011................................................. 4.500 2010................................................. 4.500 2009................................................. 4.375 2008................................................. 4.250 2007................................................. 4.250 2006................................................. 4.125 2005................................................. 4.000 2004................................................. 4.000 2003................................................. 3.875 2002................................................. 3.750 2001................................................. 3.500
2000................................................. 3.250 1999................................................. 3.125 ------------------------------------------------------------------------
Dated: December 10, 1998. Christopher A. McLean, Acting Administrator, Rural Utilities Service. [FR Doc. 98-33433 Filed 12-16-98; 8:45 am] BILLING CODE 3410-15-P