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 man who would change the name of Arkansas is the original, iron-jawed, brass-mouthed, copper-bellied corpse-maker from the wilds of the Ozarks! He is the man they call Sudden Death and General Desolation! Sired by a hurricane, dam’d by an earthquake, half-brother to the cholera, nearly related to the smallpox on his mother’s side!”
—Administration in the State of Arka, U.S. public relief program (1935-1943)
“So what if people say terrible things? Whatever they call me, I say, “Yes, and my name is Mary.” I refuse to be afraid. And I do this out of an obligation not to the community but to myself. Nobody should have a say in who I am.”
—Mary Hansen (b. c. 1975)