general obligation bond

noun

Definition of general obligation bond

: a municipal bond of which payment of interest and principal is backed by the taxing power and credit of the issuing governmental unit

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Cite this Entry

“General obligation bond.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/general%20obligation%20bond. Accessed 1 Dec. 2021.

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