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:
“At Hayes’ General Store, west of the cemetery, hangs an old army rifle, used by a discouraged Civil War veteran to end his earthly troubles. The grocer took the rifle as payment ‘on account.’”
—Administration for the State of Con, U.S. public relief program (1935-1943)
“Such reproductions may not interest the reader; but after all, this is my autobiography, not his; he is under no obligation to read further in it; he was under none to begin.... A modest or inhibited autobiography is written without entertainment to the writer and read with distrust by the reader.”
—Neville Cardus (1889–1975)