Fund

n. A sum of money set apart for a specific purpose or available for the payment of debts or claims.

In its narrower and more usual sense, "fund" signifies "capital," as opposed to "interest" or "income ;" as where we speak of a corporation funding the arrears of interest due on its bands, or the like, meaning that the interest is capitalized and made to bear interest in its turn until it is repaid. Sweet. In the plural, this word has a variety of slightly different meanings, as follows: 1. Money in hand; cash; money available for the payment of a debt, legacy, etc. Galena Ins. Ch v. Kupfer, 28 Ili. 335, 81 Am. Dec. 284. 2., The proceeds of sales of real and personal estate, or the proceeds of any other assets converted into money. Doane v. Insurance Co., 43 N. J. Eq. 533, 11 Atl. 739. 3. Corporate stocks or government securities; in this sense usually spoken of as the "funds." 4. Assets, securities, bonds, or revenue of a state or government appropriated for the discharge of its debts.

— Public funds. An untechnical name for
(1) the revenue or money of a government, state, or municipal corporation;
(2) the bonds, stocks, or other securities of a national or state government.

— Sinking fund. The aggregate of sums of money (as those arising from particular taxes or sources of revenue) set apart and invested, usually at fixed intervnis, for the extinguishment of the debt of a government or corporation, by the accumulation of interest. Elser v. Ft. Worth (Tex. Civ. App.) 27 S. W. 740; Union Pac. R. Co. v. Buffalo County Com'rs, 9 Neb. 449, 4 N. W. 53; Brooke v. Philadelphia, 162 Pa. 123, 29 Atl. 387, 24 In R. A. 781.

— General fund. This phrase, in New York, is a collective designation of all the assets of the state which furnish the means for the support of government and for defraying the discretionary appropriations of the legislature. People v. Orange County Sup'rs, 27 Barb. (N. Y.) 575, 588.