sinking fund

noun

: a fund set up and accumulated by usually regular deposits for paying off the principal of a debt when it falls due

Examples of sinking fund in a Sentence

Recent Examples on the Web In Royal Oak, voters decisively approved the renewal of a millage that funds the school district's sinking fund. Bill Laitner, Detroit Free Press, 9 Nov. 2022 If approved, village will add $3,371 annually to a sinking fund so the shades can be replaced when needed. Quinn Clark, Journal Sentinel, 25 Aug. 2022 Building and site sinking fund millage proposals for things such as infrastructure improvements and repairs, security improvements and technology upgrades were on ballots in Grosse Ile Township Schools. Christina Hall, Detroit Free Press, 11 Mar. 2020 The interest and sinking fund is commonly known as the district’s debt service rate. Elliott Lapin, Houston Chronicle, 18 Sep. 2019 The school district’s property tax rate is comprised of two elements, a maintenance and operation rate and an interest and sinking fund, which are combined to create the tax rate paid by property owners. Elliott Lapin, Houston Chronicle, 18 Sep. 2019 The millage would create a sinking fund for repairs and construction of school buildings, school security improvements and technology upgrades. Kathleen Gray, Detroit Free Press, 2 Aug. 2019 SINKING FUND BALLET PROPOSITION Level 3 mills over 10 years for the purpose of a sinking fund. Carlos Salcido, Detroit Free Press, 9 May 2018 Facility improvements in Southfield A proposal in Southfield Public Schools would allow for the creation of a .70-mill sinking fund for 10 years. Lori Higgins, Detroit Free Press, 6 May 2018 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'sinking fund.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1717, in the meaning defined above

Time Traveler
The first known use of sinking fund was in 1717

Dictionary Entries Near sinking fund

Cite this Entry

“Sinking fund.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/sinking%20fund. Accessed 23 Feb. 2024.

Kids Definition

sinking fund

noun
: a fund set up for paying off the original amount of a debt when it falls due

Legal Definition

sinking fund

see fund sense 1

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