Sinking Fund
A fund to which the issuer or the conduit borrower periodically makes payments or in which revenues from a project are periodically deposited for purposes of paying the debt service on a bond issue.
bond-basics
Debt Service
The amount of Principal and Interest required to be paid on an Issue of Bonds. Debt Service on any payment date is composed of Accrued Interest on the Bonds and any Principal due on that payment date.
See Also
Accrued Interest
The dollar amount of Interest due on a Bond, computed at that Bond’s Interest Rate, from the last Interest Payment Date to the date of calculation.
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Hundreds of Terms and Concepts
TEFRA Hearing
A public hearing held by an Issuer, following publication of a TEFRA notice, to give the public an opportunity to comment on a proposed private activity bond (PAB) issue.