A sinking fund is a fund containing money set aside or saved to pay off a debt or bond. A company that issues debt will need to pay that debt off in the future.A sinking fund call is a provision that allows a bond issuer to buy back its outstanding bonds before their maturity date at a pre-set price. Sinking funds are accessible, meaning you can take your money out easily to use at an expense. Sinking funds; how kept and invested; income therefrom and application thereof. 16. C. The directors shall provide a sinking fund to be applied to the redemption of bonds on or before their maturity. The State is not bound or obligated to make such appropriation or continue the imposition of the sales and use taxes required to be deposited to the Tax Fund. Conducts research studies and prepares issue briefs and reports on topics related to municipal debt is suance and public fund investment. The Certificates will initially evidence interest in the Weekly Mode.