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general-obligation bond

[ jen-er-uhl-ob-li-gey-shuhn ]
/ ˈdʒɛn ər əlˌɒb lɪˈgeɪ ʃən /
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noun
a bond issued by a state or city and backed by general tax revenue and the issuer's credit.
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Compare revenue bond.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

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