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:
“What use Milton, a silly story
Of our lost general parents,
eaters of fruit?”
—Gary Snyder (b. 1930)
“The magnanimous know very well that they who give time, or money, or shelter, to the stranger—so it be done for love, and not for ostentation—do, as it were, put God under obligation to them, so perfect are the compensations of the universe.”
—Ralph Waldo Emerson (1803–1882)