Under the terms of the agreement, the council will not pay interest or principal on the mortgage for five years while the group seeks financing.

Under the proposal, the state would pay the interest and principal on the bonds.

That means that the state is borrowing money to pay the interest and principal on its existing debt.

Legally, it would have to be used to pay interest or principal on city debt.

The state would pay both the interest and principal.

But the Mayor wants to use it in the next fiscal year, mostly to pay interest and principal on the city's debt.

This year, the city is spending about $3 billion to pay interest and principal on the debt.

Debt service funds are used to account for money that will be used to pay the interest and principal of long-term debts.

The rest will be used to pay interest and principal on other current bonds, something the state has never done.

In the former case, the levy paid and absorbed by slaughterer is paid principal.