NAC361.386. “Sinking fund” defined.

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“Sinking fund” means the fund to which periodic cash deposits are made for ultimately repaying a debt or replacing an asset. Usually, a sinking fund receives equal periodic deposits upon which interest is compounded at a stated rate so that the fund will accumulate to a predetermined amount at the end of a stated period.

[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]

                    
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