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 General Strike has taught the working class more in four days than years of talking could have done.”
    —A.J. (Arthur James)

    “In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.”
    —Alexis de Tocqueville (1805–1859)