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:

    “The esteem of good men is the reward of our worth, but the reputation of the world in general is the gift of our fate.”
    —François, Duc De La Rochefoucauld (1613–1680)

    “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)