Examples of Debt Service Fund in a sentence
Valley District operates two primary funds: The General Fund and Debt Service Fund (State Water Contract and Devil Canyon Castaic Funds).
Except where specifically prohibited by State law, moneys may be transferred from any other City fund to the Debt Service Fund to meet payments of principal and interest.
Following payment in full of the principal of and interest on the Refunded Prior Bonds, all amounts on deposit in the Escrow Fund shall be transferred by the Escrow Bank to the County for deposit in the Debt Service Fund established pursuant to the Paying Agent Agreement, or, if the Refunding Bonds are no longer outstanding, for deposit to any debt service fund created by the County for the District’s general obligation bonds and designated by the District.
Accrued interest on purchased or redeemed Bonds of a Series shall be paid from the related Series Interest Account of the Debt Service Fund.
In the event of purchases at less than the principal amount thereof, the difference between the amount in the Series Sinking Fund Account representing the principal amount of the Bonds so purchased and the purchase price thereof (exclusive of accrued interest) shall be transferred to the related Series Interest Account of the Debt Service Fund.