99-24187. Municipal Interest Rates for the Fourth Quarter of 1999

[Federal Register Volume 64, Number 179 (Thursday, September 16, 1999)]
[Notices]
[Page 50270]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24187]


-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Fourth Quarter of 1999

AGENCY: Rural Utilities Service, USDA.

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

-----------------------------------------------------------------------

SUMMARY: The Rural Utilities Service hereby announces the interest 
rates for advances on municipal rate loans with interest rate terms 
beginning during the fourth calendar quarter of 1999.

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

SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby 
announces the interest rates on advances made during the fourth 
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 fourth 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 5.500 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 fourth calendar quarter of 1999.

------------------------------------------------------------------------
                                                                RUS rate
              Interest rate term ends in (year)                  (0.000
                                                                percent)
------------------------------------------------------------------------
2020 or later................................................      5.500
2019.........................................................      5.500
2018.........................................................      5.500
2017.........................................................      5.500
2016.........................................................      5.500
2015.........................................................      5.500
2014.........................................................      5.375
2013.........................................................      5.375
2012.........................................................      5.250
2011.........................................................      5.250
2010.........................................................      5.125
2009.........................................................      5.000
2008.........................................................      4.875
2007.........................................................      4.875
2006.........................................................      4.750
2005.........................................................      4.625
2004.........................................................      4.500
2003.........................................................      4.250
2002.........................................................      4.125
2001.........................................................      3.875
2000.........................................................      3.625
------------------------------------------------------------------------

    Dated: September 31, 1999.
Christopher A. McLean,
Acting Administrator, Rural Utilities Service.
[FR Doc. 99-24187 Filed 9-15-99; 8:45 am]
BILLING CODE 3410-15-P