Can you explain a sinking fund using a simple analogy?

Sinking Fund · Definition: A dedicated fund used to repay bond debt and other long-term obligations. Funded through a property tax levy approved by voters. Sinking Fund · Numbered Letter 2023-1 – Bonded Construction Fund and Sinking Fund Audits · MCL 380.1212 Sinking Funds · Bulletin 7 Audits of Bonds and Sinking ... SINKING FUND MILLAGE PROPOSAL ... 6795 mill ($0.6795 on each $1,000 of taxable valuation) for a period of 10 years, 2024 to 2033, inclusive, to create a sinking ... there's a simple answer to how to save for something special while you're putting away debt — the sinking fund ... GHAPS tax year 2023 Debt Millage rate is 2.29. In tax year 2025, the Debt Millage rate will be 0.00. If approved, the .70 Sinking Fund Millage rate would be the ... Oct 30, 2023 ... A sinking fund is simply a savings account that you use to save for an expense that you know you will need to pay for in the future. Empowering Students, Valuing Diversity, Inspiring Curiosity, Pushing Possibilities. Grosse Pointe Public School System. Mar 20, 2025 ... A sinking fund is a strategic way to save money by setting aside a little bit of money each month. Here's how sinking funds work. A sinking fund is a requirement included with certain bond issues, for part of the issue to be repaid on a regular basis before the stated maturity date of the ... The policy was inaugurated by Hamilton in 1790 as a method of enhancing public credit by committing the government to redeem its debt.