general obligation bond

A municipal bond payable from general revenue rather than from a special fund.

• Such a bond has no collateral to back it other than the issuer’s taxing power. — Often shortened to obligation bond.

— Also termed full-faith-and-credit bond. [Cases: Municipal Corporations 953.]

法律翻译Cathy，在一家英国银圈所担任专职法律翻译，擅长翻译有关城市基础设施领域的法律文件。