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:

    “In effect, to follow, not to force the public inclination; to give a direction, a form, a technical dress, and a specific sanction, to the general sense of the community, is the true end of legislature.”
    —Edmund Burke (1729–1797)

    “Old men, imagining themselves under obligation to young paramours, seldom keep any thing from their knowledge.”
    —Samuel Richardson (1689–1761)