Debt Service
The amount of principal and interest required to be paid on an issue of bonds.
A fund used primarily to achieve a proper matching of revenues and Debt Service within each Bond Year that is depleted at least once each Bond Year except for a reasonable carryover amount that does not exceed the fund earnings for the immediately preceding Bond Year or 1/12 of the Debt Service for the immediately preceding Bond Year.
The amount of principal and interest required to be paid on an issue of bonds.
For tax purposes, a twelve-month period which ends on a date selected by the issuer for the purpose of the arbitrage rules.
Pronounced “slugs,” an acronym for “State and Local Government Series,” which are special United States Treasury securities sold to issuers and conduit borrowers directly by subscription from the Department of the Treasury.