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:
“There is in general good reason to suppose that in several respects the gods could all benefit from instruction by us human beings. We humans are—more humane.”
—Friedrich Nietzsche (1844–1900)
“There are minds so impatient of inferiority that their gratitude is a species of revenge, and they return benefits, not because recompense is a pleasure, but because obligation is a pain.”
—Samuel Johnson (1709–1784)
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