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<br />Interest rates are at historic lows. The 4M fund that paid 1.27% at the end of the 1st quarter, paid .05% at <br />the end of the 3rd quarter. The interest rate coupons as of March 31, 2020, and June 30, 2020, were as <br />follows: <br /> As of June 30, 2020 As of September 30, 2020 <br />Coupon Amount Percentage Amount Percentage <br />To .99% $2,938,912 20.14% $4,950,644 33.06% <br />1.00% to 1.49% 245,000 1.68% 245,000 1.64% <br />1.50% to 1.99% 3,678,800 25.21% 2,940,000 19.64% <br />2.00% to 2.49% 4,093,588 28.05% 3,178,588 21.23% <br />2.50% to 2.99% 910,000 6.24% 910,000 6.08% <br />3.00% to 3.49% 2,726,443 18.68% 2,747,802 18.35% <br /> $14,592,743 100.00% $14,972,034 100.00% <br />The coupons over 1.50% are primarily for non-callable investments so the coupons will not change until <br />the investment matures. As these investments mature and new investments are purchased, the interest rates <br />will be at lower rates due to the target Fed Funds Rate that is currently at 0% to .25%. <br /> <br />A listing of the investments by type and maturity is attached to this report. <br /> <br />4