N.H. Admin. Code § Env-Dw 1106.03 - Market Rate

(a) The department's purpose in establishing a market rate shall be to remain competitive in the infrastructure financing marketplace.

(b) The department shall establish the initial market rate on the date of the first public hearing held pursuant to Env-Dw 1105.02(e) in each federal fiscal year, at or below the interest rate established in the 11-Bond Index published the prior week by The Bond Buyer on-line at www.bondbuyer.com.

(c) The department shall review the 11-Bond Index not less than monthly.

(d) If at any time the arithmetic average of the 11-Bond Index values published in any 4 consecutive weeks falls below 90% of the market rate in effect at that time, then:

(1) The department shall adjust the market rate to equal the 11-Bond Index published in the last week of that 4-week period; and

(2) The new rate shall become effective on Monday of the following week.

Notes

N.H. Admin. Code § Env-Dw 1106.03

(See Revision Note at chapter heading for Env-Dw 1100) #8702, eff 8-24-06

Amended by Volume XXXV Number 06, Filed February 12, 2015 , Proposed by #10772, Effective 1/24/2015, Expires1/24/2025.