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:
“Pleasure is necessarily reciprocal; no one feels it who does not at the same time give it. To be pleased, one must please. What pleases you in others, will in general please them in you.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“Do not tell me ... of my obligation to put all poor men in good situations. Are they my poor? I tell thee, thou foolish philanthropist, that I grudge the dollar, the dime, the cent, I give to such men as do not belong to me and to whom I do not belong.”
—Ralph Waldo Emerson (1803–1882)
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