[Federal Register: April 8, 2002 (Volume 67, Number 67)]
[Notices]
[Page 16716-16717]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08ap02-30]
-----------------------------------------------------------------------
DEPARTMENT OF AGRICULTURE
Rural Utilities Service
Municipal Interest Rates for the Second Quarter of 2002
AGENCY: Rural Utilities Service, USDA.
ACTION: Notice of municipal interest rates on advances from insured
electric loans for the second quarter of 2002.
-----------------------------------------------------------------------
SUMMARY: The Rural Utilities Service hereby announces the interest
rates for advances on municipal rate loans with interest rate terms
beginning during the second calendar quarter of 2002.
DATES: These interest rates are effective for interest rate terms that
commence during the period beginning April 1, 2002, and ending June 30,
2002.
FOR FURTHER INFORMATION CONTACT: Gail P. Salgado, Management Analyst,
Office of the Assistant Administrator, Electric Program, Rural
Utilities Service, U.S. Department of Agriculture, Room 4023-S, Stop
1560, 1400 Independence Avenue, SW, Washington, DC 20250-1560.
Telephone: 202-205-3660. FAX: 202-690-0717. E-mail:
GSalgado@rus.usda.gov.
SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby
announces the interest rates on advances made during the second
calendar quarter of 2002 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.
[[Page 16717]]
The table of Municipal Market Data includes only rates for
securities maturing in 2002 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 on 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 second calendar quarter of 2002.
------------------------------------------------------------------------
RUS rate
Interest rate term ends in (year) (0.000
percent)
------------------------------------------------------------------------
2023 or later 5.000
2022....................................................... 5.000
2021....................................................... 5.000
2020....................................................... 5.000
2019....................................................... 4.875
2018....................................................... 4.875
2017....................................................... 4.875
2016....................................................... 4.750
2015....................................................... 4.625
2014....................................................... 4.500
2013....................................................... 4.375
2012....................................................... 4.250
2011....................................................... 4.125
2010....................................................... 4.000
2009....................................................... 3.875
2008....................................................... 3.625
2007....................................................... 3.500
2006....................................................... 3.000
2005....................................................... 2.625
2004....................................................... 2.125
2003....................................................... 1.625
------------------------------------------------------------------------
Dated: March 6, 2002.
Hilda Gay Legg,
Administrator, Rural Utilities Service.
[FR Doc. 02-8429 Filed 4-5-02; 8:45 am]
BILLING CODE 3410-15-P