debt service

noun

Definition of debt service

: the amount of interest and sinking fund payments due annually on long-term debt

Examples of debt service in a Sentence

Recent Examples on the Web However, state law does not allow debt service funds from bonds to be allocated toward maintenance and operations expenses, the district said. Brandi Addison, Dallas News, "Allen ISD gets some answers from voters who rejected two school bond proposals," 17 Dec. 2020 In any case, the sharp decline in interest rates should reduce the one relatively legitimate concern about the debt load, which is that debt service will overwhelm the economy. Michael Hiltzik, Los Angeles Times, "Column: Republicans are complaining (again) about the budget deficit," 4 Dec. 2020 The board will pay about $70 million in debt service next year but only $51 million on its existing bonds in 2022, after several of the debts are paid off, said David Gernhauser, secretary for the Board of Liquidation. Jeff Adelson, NOLA.com, "Tiny dip in New Orleans property tax rate set for next year after debt payments decrease," 29 Nov. 2020 Kennedy recently told City Council that $46 million in federal coronavirus relief allowed the airport to cover payroll and debt service in 2020. Robert Higgs, cleveland, "Cleveland Hopkins International Airport could recover more quickly than others, experts say - but concerns loom," 17 Nov. 2020 The comptroller’s report notes that if the authority is forced to borrow the full amount, debt service could rise to 27% of its operating costs by 2023. Paul Berger, WSJ, "New York’s MTA Faces Dire Outlook Without Federal Aid, State Comptroller Warns," 13 Oct. 2020 The financial restructure decreased the Airport Authority’s maximum annual debt service payments from $16.6 million to approximately $10 million, according to spokeswoman Candace O’Neil. al, "No layoffs, no furloughs: Alabama airports hold on despite aviation industry COVID struggles," 8 Dec. 2020 One-time revenue additions include a $1.1 million transfer from the gaming fund, which the general fund will repay with $250,000 a year for the next four years, and $3 million from debt service refinancing, which the city will not do this year. Steve Lord, chicagotribune.com, "Proposed Aurora 2021 budget about $33 million lower than in 2020," 3 Dec. 2020 In September, Chinese Ambassador to the Maldives Zhang Lizhong said on Twitter that Beijing had suspended the bilateral sovereign loans for the Maldives under the G20's debt service suspension initiative. Nectar Gan, CNN, "A tale of two bridges: India and China vying for influence in the Maldives," 24 Nov. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'debt service.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of debt service

1929, in the meaning defined above

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Time Traveler for debt service

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The first known use of debt service was in 1929

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Statistics for debt service

Last Updated

14 Jan 2021

Cite this Entry

“Debt service.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/debt%20service. Accessed 28 Jan. 2021.

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More Definitions for debt service

debt service

noun

Legal Definition of debt service

: the amount of interest and principal payments due annually on long-term debt

Comments on debt service

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