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:
“Some people are under the impression that all that is required to make a good fisherman is the ability to tell lies easily and without blushing; but this is a mistake. Mere bald fabrication is useless; the veriest tyro can manage that. It is in the circumstantial detail, the embellishing touches of probability, the general air of scrupulous—almost of pedantic—veracity, that the experienced angler is seen.”
—Jerome K. Jerome (1859–1927)
“I look on it as no trifling effort of female strength to withstand the artful and ardent solicitations of a man that is thoroughly master of our hearts. Should we in the conflict come off victorious, it hardly pays us for the pain we suffer from the experiment ... and I still persist in it that such a behaviour in any man I love would rob me of that most pleasing thought, namely, the obligation I have to him for not making such a trial.”
—Sarah Fielding (1710–1768)