general obligation bonds

general obligation bonds definition - finance
Municipal securities that are secured by the tax receipts of the issuing government body. Often, in the event of default, general obligation bonds have a superior claim on a municipalÂ’s assets or tax receipts over other debt securities.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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