Sinking fund


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SINKING FUND. A fund arising from particular taxes, imposts, or duties, which is appropriated towards the payment of the interest due on a public loan and for the gradual payment of the principal. See Funding System.

References in periodicals archive ?
Residents claim the sinking fund is short of pounds 232,000 because of mistakes in Anchor Trust's management.
85% base rate, as of the first sinking fund date by the amounts indicated and remain at the new rate for the life of the issue.
The GO notes issued by the participating districts to the authority benefit from the provisions of Section 633 of Pennsylvania's Public School Code, as amended by Act 154 of 1998 and in concert with provisions detailed in an interagency memorandum of agreement, which states that the commonwealth's Secretary of Education shall intercept any state appropriations due to the district and direct them to the paying agent upon a missed sinking fund payment.
Each scenario incorporated a sinking fund for asset replacement.
Many issuers stay well ahead of their sinking fund requirements.
A Notice of Redemption will be mailed no later than July 27, 2001 to holders whose bonds have been selected for sinking fund redemption.
A Notice of Redemption will be mailed no later than July 26, 2000, to holders whose bonds have been selected for sinking fund redemption.
If the city had to levy an interest and sinking fund tax to meet detention center related debt obligations, officials estimate that the overall tax rate would have to double over the current operations and maintenance tax rate, which Fitch believes would be extremely difficult to impose.
Payment of the sinking fund redemption price will be made on August 2, 1999 to the holders of the $6.
The SCRF requirement is defined as the lesser of the sum of the SCRF requirements for all bonds outstanding, or the maximum amount of principal and interest becoming due on the outstanding debt by reason of maturity or a required sinking fund payment in any given year.
Nasdaq: RLLY) announced today that the company has fulfilled its June 15, 1999 bond sinking fund requirements, with respect to the 9-7/8% Senior Notes due June 15, 2000.
The bonds are term bonds with mandatory sinking fund payments June 1, 2007-2015 with semi-annual interest payments due Dec.