Building Aid: Statewide Average Interest Rate (Final)

Dated: (Oct. 2010)

The final statewide average interest rate based on debt incurred by districts between 7/1/09 and 6/30/10 is 3.000%. This rate will be used to calculate assumed amortizations of prospective projects with a Commissioner's approval date between 7/1/09 and 6/30/10. It will be used on a preliminary basis to calculate assumed amortizations of prospective projects with a Commissioner's approval date between 7/1/10 and 6/30/11. The statewide average rate used to calculate assumed amortizations of the remaining principal for "retro" borrowings will remain 4.5%.

Last Updated: October 29, 2010