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:
“As a general rule, do not kick the shins of the opposite gentleman under the table, if personally unaquainted with him; your pleasantry is liable to be misunderstooda circumstance at all times unpleasant.”
—Lewis Carroll [Charles Lutwidge Dodgson] (18321898)
“The only obligation to which in advance we may hold a novel, without incurring the accusation of being arbitrary, is that it be interesting.”
—Henry James (18431916)
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