General-Obligation Bond Law and Legal Definition
General-obligation bond is a municipal bond that is usually paid out of general revenue and not from a special fund. This bond is not backed by any other collateral other than the issuer’s taxing power. This bond is commonly known as obligation bond and is also termed as full-faith-and-credit bond.
Legal Definition list
- General-Mortgage Bond
- General Welfare Clause
- General Warranty Deed
- General Warranty
- General Warrant
- General-Obligation Bond
- General-Welfare Power
- General/Area Wage Determinations
- Generale Tantum Valet In Generalibus, Quantum Singulare In Singulis
- Generalia Specialibus Non Derogant
- Generalia Sunt Praeponenda Singularibus
