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:
“No doubt, the short distance to which you can see in the woods, and the general twilight, would at length react on the inhabitants, and make them savages. The lakes also reveal the mountains, and give ample scope and range to our thought.”
—Henry David Thoreau (1817–1862)
“I look on it as no trifling effort of female strength to withstand the artful and ardent solicitations of a man that is thoroughly master of our hearts. Should we in the conflict come off victorious, it hardly pays us for the pain we suffer from the experiment ... and I still persist in it that such a behaviour in any man I love would rob me of that most pleasing thought, namely, the obligation I have to him for not making such a trial.”
—Sarah Fielding (1710–1768)