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 has dedicated himself so many times, he must feel like the cornerstone of a public building.”
—Adlai Stevenson (1900–1965)
“Old men, imagining themselves under obligation to young paramours, seldom keep any thing from their knowledge.”
—Samuel Richardson (1689–1761)
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