Rate Information
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For a specific quote, please e-mail the following information to cwhitaker@flcities.com
--Item to be financed
--Dollar amount of the loan
--Payment frequency (monthly, quarterly, annually or semi-annually)
--Term (3, 4, 5, 7 or 10 years)
--Payment in advance or arrears
--Date of next Council meeting
Please note when a quote is given, that the rate is guaranteed for 30 days.
Each Lease will have a fixed rate of interest.
This rate is based on the following 2 components:
1. Monthly percentage of the U.S. Treasury Bond.
EXAMPLE:
Percentages until 9/30/04 are:
36 months 123% of T-Bond
48 months 109% of T-Bond
60 months 105% of T-Bond
84 months 102% of T-Bond
120 months 102% of T-Bond
2. Daily U.S. Treasury Bond Rate.
Your rate will be calculated based on the current rate on the day you request a quote:
Example: If you were interested in Leasing a Fire Truck for 10 years (120 months), your interest rate would be: 1.04 x 3.99 (Treasury on 2/5/03) or 4.15%
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Rates change daily, but to give you an idea, the current FLC Rates (as of 9/13/04):
3 year = 3.44%
4 year = 3.38%
5 year = 3.58%
7 year = 3.78%
10 year = 4.26%
Please visit BondTalk.com,, Bloomberg.com, money.cnn.com or any other similar internet site for an up to the minute chart of the current rates on U.S. Treasury obligations. |
