[Federal Register: September 16, 1999 (Volume 64, Number 179)] [Notices] [Page 50270] From the Federal Register Online via GPO Access [wais.access.gpo.gov] [DOCID:fr16se99-26] ----------------------------------------------------------------------- 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: 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 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