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:
“Treating ‘water’ as a name of a single scattered object is not intended to enable us to dispense with general terms and plurality of reference. Scatter is in fact an inconsequential detail.”
—Willard Van Orman Quine (b. 1908)
“The magnanimous know very well that they who give time, or money, or shelter, to the stranger—so it be done for love, and not for ostentation—do, as it were, put God under obligation to them, so perfect are the compensations of the universe.”
—Ralph Waldo Emerson (1803–1882)
Related Phrases
Related Words