Legal Definition and Related Resources of Sinking Fund
Meaning of Sinking Fund
The aggregate of sums of money from particular taxes or uses of revenue , set apart and invested, usually at fixed intervals, for the extinguishment of the debt of a government or corporation by the accumulation of interest ; it is utilized towards the payment of the interest due on the debt and for the gradual payment of the principal . Clark v Philadelphia, 328 Pa. 521, 196 A. 384. The purpose of the fund is its investment in such a manner that its gradual accumulation will enable it to meet and wipe out a debt at maturity thereof. See Clark v Philadelphia, ( supra ).
Sinking Fund Alternative Definition
A fund arising from particular taxes, imposts, or duties, which is appropriated towards the payment of the interest due on a public loan, and for the gradual payment of the principal. 9 Neb. 453.
Legal Definition of Sinking Fund
Money regularly set aside by a company to redeem its bonds, debentures or preferred stock from time to time as specified in the indenture or charter.
Related Entries of Sinking Fund in the Encyclopedia of Law Project
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Sinking Fund in Historical Law
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Legal Abbreviations and Acronyms
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This definition of Sinking Fund is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Concept of Sinking Fund in the context of Real Property
A short definition of Sinking Fund: A fund (often invested) which will be used to replace improvements as needed. Most commonly set aside from the income of income producing property.
Concept of Sinking Fund in the context of Real Property
A short definition of Sinking Fund: A fund (often invested) which will be used to replace improvements as needed. Most commonly set aside from the income of income producing property.
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- Fund
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