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 a mortifying experience in particular, which does not fail to wreak itself also in the general history; I mean “the foolish face of praise,” the forced smile which we put on in company where we do not feel at ease, in answer to conversation which does not interest us. The muscles, not spontaneously moved but moved, by a low usurping wilfulness, grow tight about the outline of the face, with the most disagreeable sensation.”
—Ralph Waldo Emerson (1803–1882)
“Such reproductions may not interest the reader; but after all, this is my autobiography, not his; he is under no obligation to read further in it; he was under none to begin.... A modest or inhibited autobiography is written without entertainment to the writer and read with distrust by the reader.”
—Neville Cardus (1889–1975)