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 esteem of good men is the reward of our worth, but the reputation of the world in general is the gift of our fate.”
    —François, Duc De La Rochefoucauld (1613–1680)

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