For a sinking fund tax authorized on or after March 29, 2017, the sinking fund tax may be levied each year for a period not to exceed 10 years. Is there a strategy available to implement both a sinking fund and voted bonds plan?Each fund will account for designated assets, liabilities, fund equity, revenues, and expenditures based upon the purpose of the fund. Yes. The district's debt fund levy is currently set at 7 mills. If the sinking fund passes the current levy will be increased to 9.5 mills. The sinking fund is a payasyougo method of funding upgrades and repairs to schools or school facilities. Pursuant to the Act, Sales Tax Revenues will be available for the payment of the Future Tax Secured Bonds if Personal. The project list is not specified in detail and a school district can add or remove items as needs arise.