Definitions for "General obligation"
A municipal obligation that is supported by the full faith and credit - the full taxing authority - of the municipality (as opposed to support from only the revenues from specific user fees).
(G.O.) A bond secured by a pledge of the issuer's "full faith and credit" and, usually, taxing power. The taxing power may be an unlimited ad valorem tax or a limited tax, usually on real estate and personal property. Most states don't tax real estate, but leave that power to local units of government.
A security; the payment of which is secured by a pledge of the Issuer's full faith and credit.