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 will is always right.”
    —Jean-Jacques Rousseau (1712–1778)

    “The obligation of subjects to the sovereign is understood to last as long, and no longer, than the power lasteth by which he is able to protect them.”
    —Thomas Hobbes (1588–1679)