[ jen-er-uhl-ob-li-gey-shuhn ]
/ ˈdʒɛn ər əlˌɒb lɪˈgeɪ ʃən /
a bond issued by a state or city and backed by general tax revenue and the issuer's credit.
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What does “clement” mean?
Compare revenue bond.
Words nearby general-obligation bond
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020