Interest Rates

Current Rates

Interest rates will vary depending on the length of borrowing, but will be based on the bond yields for highly rated bonds.

For Borrowing Amount of $5,000,000

As of	Bond Length (Years)	Est. Interest Rate¹	Est. Payment Per $100,000
1/21/2013	1	2.64%	$102,640
	5	2.64%	$21,612
	10	2.86%	$11,639
	15	3.27%	$8,541
	20	3.56%	$7,074
	25	3.82%	$6,280

(1) Represents All Inclusive Costs, including cost of issuance.

Recent events in the credit markets have created additional uncertainty resulting in a significant increase in the cost of bond insurance. The additional costs are reflected in the rates above.

Rates include program fees and expenses and are based on the bond market as of January 21, 2013. Rates are subject to change without notice.

Rate Trend

Bond Length (Years)	12/31/2012	1/7/2013	1/14/2013	1/21/2013
1	2.64%	2.64%	2.64%	2.64%
5	2.79%	2.69%	2.65%	2.64%
10	3.07%	2.95%	2.87%	2.86%
15	3.43%	3.40%	3.30%	3.27%
20	3.71%	3.72%	3.62%	3.56%
25	3.98%	4.00%	3.88%	3.82%

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