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general-obligation bond

[jen-er-uh l-ob-li-gey-shuh n] /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.
Compare revenue bond.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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