Is a sinking fund legally required for certain types of debt?

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 ... 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. Redemption. The repayment of bonds prior to their maturity date. · Sinking Fund. A fund to which the issuer or the conduit borrower periodically makes payments ... Jul 9, 2019 ... What is the purpose of a Sinking Fund? A sinking fund is a deposit of money, which allows for the body corporate of a property to pay for major ... A sinking fund is an amount of money which is set aside to cover any major work which is needed on a property in the future. Any county which has a bond issue approved under KRS. 66.310 may comply with the provisions of this subsection with respect to the sinking funds for the bonds ... There shall be created a sinking fund, which shall be sufficient to pay the accruing interest on such debt, and, annually, to reduce the principal thereof. The Byron Area Schools 3.0 millage sinking fund will be used for safety and security upgrades, as well as electrical and plumbing upgrades. Jul 23, 2024 ... A sinking fund simply means money put aside over time for a particular purpose, like a big bill. By having sinking funds set up, I didn't have to worry about ... Jun 14, 2023 ... Setting aside money over months or years to pay for that expense can make it easier on your budget. Learn how to bankroll big purchases with our guide to ...