[Federal Register Volume 64, Number 53 (Friday, March 19, 1999)]
[Notices]
[Page 13541]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-6718]



[[Page 13541]]

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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Municipal Interest Rates for the Second Quarter of 1999

AGENCY: Rural Utilities Service, USDA.

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

DATES: These interest rates are effective for interest rate terms that 
commence during the period beginning April 1, 1999, and ending June 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: 202-720-1928. FAX: 202-690-2268. E-mail: 
CD[email protected].

SUPPLEMENTARY INFORMATION: The Rural Utilities Service (RUS) hereby 
announces the interest rates on advances made during the second 
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 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 1999.

------------------------------------------------------------------------
                                                        RUS rate  (0.000
          Interest rate term ends in (year)                 percent)
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2020 or later........................................              5.000
2019.................................................              5.000
2018.................................................              5.000
2017.................................................              4.875
2016.................................................              4.875
2015.................................................              4.875
2014.................................................              4.750
2013.................................................              4.625
2012.................................................              4.625
2011.................................................              4.500
2010.................................................              4.375
2009.................................................              4.250
2008.................................................              4.250
2007.................................................              4.125
2006.................................................              4.000
2005.................................................              3.875
2004.................................................              3.875
2003.................................................              3.625
2002.................................................              3.375
2001.................................................              3.250
2000.................................................              3.000
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    Dated: March 12, 1999.
Wally Beyer,
Administrator, Rural Utilities Service.
[FR Doc. 99-6718 Filed 3-18-99; 8:45 am]
BILLING CODE 3410-15-P