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general-obligation bond

American  
[jen-er-uhl-ob-li-gey-shuhn] / ˈdʒɛn ər əlˌɒb lɪˈgeɪ ʃən /

noun

  1. a bond issued by a state or city and backed by general tax revenue and the issuer's credit.


Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Because the general-obligation bond pledge is so powerful, states have also made it hard to issue too many of the bonds.

From New York Times • Jul. 29, 2015

Illinois had its general-obligation bond rating reduced Jan. 6 by Moody’s Investors Service to A2 from A1, making it the company’s lowest-graded state.

From BusinessWeek • Feb. 22, 2012

A California general-obligation bond sold in March 2010 and due in 2022 yielded about 75 basis points more than an index of AAA rated 10-year securities on Jan. 30, according to data compiled by Bloomberg.

From BusinessWeek • Feb. 13, 2012

A 20-year tax- exempt general-obligation bond rated A- yields about 4.76 percent, compared with 3.94 percent for a AAA rated bond, according to a Bloomberg Fair Valuation index.

From BusinessWeek • Nov. 1, 2011

An October 2026 tax-exempt Nassau County general-obligation bond traded July 27 at an average yield of 4.2 percent, down from about 5 percent in February, according to Municipal Securities Rulemaking Board data compiled by Bloomberg.

From BusinessWeek • Aug. 2, 2011