Meaning of general-obligation bond

gen'er•al-ob•li•ga'tion bond"

Pronunciation: ( jen'ur-ul-ob"li-gā'shun), [key]
  1. a bond issued by a state or city and backed by general tax revenue and the issuer's credit. Cf. revenue bond.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.