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:
“We do not need to minimize the poverty of the ghetto or the suffering inflicted by whites on blacks in order to see that the increasingly dangerous and unpredictable conditions of middle- class life have given rise to similar strategies for survival. Indeed the attraction of black culture for disaffected whites suggests that black culture now speaks to a general condition.”
—Christopher Lasch (b. 1932)
“Too great a hurry to discharge an obligation is a kind of ingratitude.”
—François, Duc De La Rochefoucauld (1613–1680)
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