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COUNTY FINANCING INTEREST RATES <br />Historical Amounts Compared to Interest Rate Benchmarks <br />Calendar Year County Rate <br />2017 (Recommended) <br />5.00% <br />2016 <br />5.00% <br />2015 <br />5.75% <br />2014 <br />5.75% <br />2013 <br />5.75% <br />2012 <br />5.75% <br />2011 <br />5.75% <br />2010 <br />5.75% <br />2009 <br />5.75% <br />2008 (31 <br />5.75% <br />2007 <br />8.25% <br />2006 <br />7.00% <br />2005 <br />5.75% <br />2004 <br />5.75% <br />2003 <br />5.75% <br />2002 - Feb. 5 - Dec. 31 �'� <br />5.75% <br />2002 - Jan. 1 - Feb. 5 �'� <br />4.75% <br />2001 - Jul. - Dec. (2) <br />6.75% <br />2001 - Jan. - Jun. (2) <br />8.50% <br />2000 <br />8.50% <br />Historical Interest Rates <br />9.00% <br />8.00% <br />7.00% <br />600% <br />500% <br />N <br />ar <br />400% <br />c <br />3.00% <br />2.00% <br />1.00% <br />0.00% <br />1 <br />1.000 10111 `LOO`, `LOO, 9 <br />1006 `LOOP `100 1 <br />101`1 `lye 1 <br />101 <br />Calendar Year <br />(1) On February 5, 2002, the Board of Commissioners adopted a minimum interest rate of 5.75%. This rate is equivalent to the interest rate on County utility <br />revenue bonds. This prevents the County from lending at lower rates than our own borrowing costs. After early payoff of Series 2005 Water & Sewer Revenue <br />bonds in 2015, the maximum interest rate on utility bonds is 5.00%, therefore, on December 15, 2015, the Board approved decreasing the minimum interest <br />rate to 5.0% <br />(2) Due to highly fluctuating interest rates, the County adjusted interest rates every six months, rather than every twelve months for calendar year 2001. <br />(3) On December 18, 2007, the BCC approved setting this at the minimum rate of 5.75% as opposed to the prime rate of 7.25% in light of current economic <br />conditions. <br />Note: The County sets a standard interest rate on all financing at the beginning of each calendar year. This rate is equivalent to the prime rate as published on <br />Bloomberg, with a minimum rate of 5.75% adopted on February 5, 2002. <br />F:\Budget\Carol Roberts\1 Excel Documents\20162017Budget\interest rate history <br />�o <br />