A fund made up of sums of money set aside at intervals, usually invested at interest, in order to meet a specified future obligation, as the retirement of bonds at maturity.
Webster's New World
A fund accumulated to pay off a corporate or public debt.
A fund with regular deposits made to it that is kept to pay off corporate or governmental debt.
Webster's New World Law
Other Word Forms of Sinking Fund
Sinking Fund Sentence Examples
The annual expenses of the board include £35,000 for cable repairs and reserve and a fixed payment to the National Debt Commissioners of £77,544 as sinking fund to amortise capital expenditure in fifty years.
In 1909 the taxable real estate and personal property was valued at $108,663,716, and the city had no floating debt; on the 1st of February 1910, there were 810,706,318 worth of bonds outstanding, and the sinking fund was 82,011,857.
A municipal civil service commission of three members (holding office for three years) is chosen by the president of the board of education, the president of the city council, and the president of the board of sinking fund commissioners; the pay (if any) of these commissioners is set by each city.
A special tax is levied for the benefit of the sinking fund - one-tenth of a mill in 1909.
By the provisions of the " Annex Decree," also described below, three-quarters of the additional revenue is assigned to the Turkish government, and one-quarter to the Public Debt Administration to swell the sinking-fund.