General Obligation

A general obligation is a legal pledge in United States municipal finance, in which an entity pledges its full faith and credit to repay its debt, typically a general obligation bond.

Famous quotes containing the words general and/or obligation:

    “As a general rule, do not kick the shins of the opposite gentleman under the table, if personally unaquainted with him; your pleasantry is liable to be misunderstood—a circumstance at all times unpleasant.”
    —Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)

    “The only obligation to which in advance we may hold a novel, without incurring the accusation of being arbitrary, is that it be interesting.”
    —Henry James (1843–1916)