Debt Service
The amount of principal and interest required to be paid on an issue of bonds.
bond-basics
Level Debt Service
A Maturity schedule in which the combined annual amount of Principal and Interest payments remains relatively constant over the life of a Bond Issue. Some state laws require Level Debt Service for certain transactions.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Verification Report
A document that verifies the mathematical accuracy of information needed to support bond counsel’s conclusions that an advance refunding bond issue is a tax-exempt bond issue and/or that refunded bonds are defeased.