General Obligation Bond


A municipal bond secured by the taxing and borrowing power of the municipality issuing it.

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It was a general obligation bond and that meant a lot of things, some of which were very complicated and hard to understand.

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In more stable communities a general obligation bond makes use of its own economy to move projects forward, benefiting both the community and the bond holders.

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General obligation bond s are not backed by a particular revenue source (i.e. a specific tax, facility, or project), but rather from the general credit and net revenues of the issuing entity.

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limited tax bond moral obligation bond