99-16388. Municipal Interest Rates for the Third Quarter of 1999

[Federal Register Volume 64, Number 123 (Monday, June 28, 1999)]
[Notices]
[Pages 34630-34631]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-16388]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Third Quarter of 1999

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of municipal interest rates on advances from insured 
electric loans for the third 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 third calendar quarter of 1999.

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning July 1, 1999, and ending September 
30, 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: [phone]. FAX: [phone]. E-mail: 
[e-mail].

SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby 
announces the interest rates on advances made during the third 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

[[Page 34631]]

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 5.125 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 third calendar quarter of 1999.

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                                                                RUS rate
              Interest rate term ends in (year)                  (0.000
                                                                percent)
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2020 or later................................................      5.125
2019.........................................................      5.125
2018.........................................................      5.125
2017.........................................................      5.125
2016.........................................................      5.000
2015.........................................................      5.000
2014.........................................................      5.000
2013.........................................................      5.875
2012.........................................................      4.875
2011.........................................................      4.750
2010.........................................................      4.625
2009.........................................................      4.625
2008.........................................................      4.500
2007.........................................................      4.375
2006.........................................................      4.250
2005.........................................................      4.250
2004.........................................................      4.125
2003.........................................................      3.875
2002.........................................................      3.625
2001.........................................................      3.375
2000.........................................................      3.125
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    Dated: June 15, 1999.
Wally Beyer,
Administrator, Rural Utilities Service.
[FR Doc. 99-16388 Filed 6-25-99; 8:45 am]
BILLING CODE 3410-15-P