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 has always been the same amount of light in the world. The new and missing stars, the comets and eclipses, do not affect the general illumination, for only our glasses appreciate them.”
—Henry David Thoreau (1817–1862)
“Do not tell me ... of my obligation to put all poor men in good situations. Are they my poor? I tell thee, thou foolish philanthropist, that I grudge the dollar, the dime, the cent, I give to such men as do not belong to me and to whom I do not belong.”
—Ralph Waldo Emerson (1803–1882)
Related Phrases
Related Words