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 General has dedicated himself so many times, he must feel like the cornerstone of a public building.”
—Adlai Stevenson (19001965)
“The magnanimous know very well that they who give time, or money, or shelter, to the strangerso it be done for love, and not for ostentationdo, as it were, put God under obligation to them, so perfect are the compensations of the universe.”
—Ralph Waldo Emerson (18031882)
Related Phrases
Related Words