A debt in the form of securities with long-term or indefinite redemption. Compare with floating debt.
- There is no more reason to finance the repayment of this part of the funded debt by a payroll tax than any other part.
- Net unmatured funded debt of railroads totals about 30% of investment in road and equipment, which means there is over $3.30 invested in road and equipment for every dollar of funded debt.
- At the end of the first quarter of fiscal 2003, net funded debt stood at $401 million even after taking into account the $500 million invested over the previous 12 months.
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