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:
“Everyone confesses in the abstract that exertion which brings out all the powers of body and mind is the best thing for us all; but practically most people do all they can to get rid of it, and as a general rule nobody does much more than circumstances drive them to do.”
—Harriet Beecher Stowe (1811–1896)
“I look on it as no trifling effort of female strength to withstand the artful and ardent solicitations of a man that is thoroughly master of our hearts. Should we in the conflict come off victorious, it hardly pays us for the pain we suffer from the experiment ... and I still persist in it that such a behaviour in any man I love would rob me of that most pleasing thought, namely, the obligation I have to him for not making such a trial.”
—Sarah Fielding (1710–1768)