Examples of Interest and Sinking Fund in a sentence
Moneys on deposit in the Revenue Fund, the Interest and Sinking Fund, the Project Fund and the Special Mandatory Redemption Fund shall be invested in treasury bills maturing in less than ninety days, rated commercial paper, or AAA-rated money market funds, as directed by the City.
Any securities or obligations in which money from the Revenue Fund, the Interest and Sinking Fund, the Project Fund or the Special Mandatory Redemption Fund is so invested shall be kept and held in trust for the benefit of the owners of the Bonds and shall be sold and the proceeds of sale shall be timely applied to the making of all payments required to be made from the fund from which the investment was made.
Earnings derived from the investment of moneys in the Interest and Sinking Fund, shall be deposited in the Interest and Sinking Fund, and shall be taken into consideration to reduce the amount of the deposits which would otherwise be required to be deposited in the Interest and Sinking Fund from the Pledged Revenues.
Should there be any balance in the Note Escrow Fund after all costs and expenses of refunding the Notes has been paid, upon the written direction of the City, said balance shall be placed in the Interest and Sinking Fund and applied in reduction of the payments to be made for debt service under the provisions hereof.
The following provisions shall govern the maintenance and use of the Interest and Sinking Fund.