[Federal Register Volume 67, Number 67 (Monday, April 8, 2002)]
[Notices]
[Pages 16716-16717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-8429]


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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.

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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 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: 
[email protected]. 

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)
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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
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    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