sinking fund

noun

Definition of sinking fund

: 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 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, "Most ballot proposals approved in Wayne County," 11 Mar. 2020 The interest and sinking fund is commonly known as the district’s debt service rate. Elliott Lapin, Houston Chronicle, "Crosby ISD decreases property tax rate," 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, "Crosby ISD decreases property tax rate," 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, "Aug. 6 elections in metro Detroit: Who's running, what to know," 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, "2018 Michigan Election Results: Wayne, Oakland and Macomb counties," 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, "Schools put technology, safety projects on the line in Tuesday election," 6 May 2018 PROPOSAL Levy a building and site sinking fund tax, the proceeds of which will be used to make improvements and repairs to facilities and purchase technology. Carlos Salcido, Detroit Free Press, "2018 Michigan Election Results: Wayne, Oakland and Macomb counties," 9 May 2018 Voters OK'd allowing the district to replace its sinking fund millage, which is set to expire in December. Lori Higgins, Detroit Free Press, "3 votes the difference in two metro Detroit school elections," 9 May 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'sinking fund.' 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 sinking fund

1717, in the meaning defined above

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Time Traveler for sinking fund

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The first known use of sinking fund was in 1717

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Cite this Entry

“Sinking fund.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/sinking%20fund. Accessed 11 May. 2021.

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More Definitions for sinking fund

sinking fund

Legal Definition of sinking fund

— see fund sense 1

More from Merriam-Webster on sinking fund

Thesaurus: All synonyms and antonyms for sinking fund

Britannica.com: Encyclopedia article about sinking fund

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