General Obligation Debt definition

General Obligation Debt means an obligation of the RECIPIENT secured by annual ad valorem taxes levied by the RECIPIENT and by the full faith, credit, and resources of the RECIPIENT.

General Obligation Debt means any indebtedness of the State which shall be secured in whole or in part by a pledge of the full faith, credit and taxing power of the State.

General Obligation Debt means an obligation of a special district created by a resolution of the special district authorizing the issuance of bonds or a contract, the obligations of which are backed by a pledge of the full faith and credit of the special district and a covenant to impose mill levies without limit to retire the bonds or fund the contractual obligation.

Examples of General Obligation Debt in a sentence

• Most districts finance their annual capital expenditures by issuing General Obligation Debt.

• This loan is a General Obligation Debt of the RECIPIENT payable from special assessments to be imposed within the constitutional and statutory tax limitations provided by law without a vote of the electors of the RECIPIENT on all of the taxable property within the boundaries of the RECIPIENT.

• In addition to General Obligation Debt that is supported by local taxes, cities and boroughs may issue debt that is supported by the revenues generated by the project financed through the issuance of debt.

• Tax-Supported General Obligation Debt shall mean all other General Obligation Debt, which is expected and intended to be paid from a general real property tax levy.

• General Obligation Debt shall not include any obligation of the City not denominated a bond, including, without limitation, short term notes or warrants or other obligations which the City may issue from time to time for various purposes and to come due within three (3) years of issuance.

More Definitions of General Obligation Debt

General Obligation Debt means any indebtedness of the political subdivision which shall be secured in whole or in part by a pledge of its full faith, credit and taxing power.

General Obligation Debt means any Debt of the Commonwealth, the payment of which is secured by the full faith and credit of the Commonwealth.

General Obligation Debt means an obligation of the recipient secured by annual ad valorem taxes

General Obligation Debt means any indebtedness of the State which must be secured in whole or in part by a pledge of the full faith, credit and taxing power of the State, including, but not limited to, bonds, notes and other evidences of indebtedness, and issued pursuant to the provisions of this chapter.

General Obligation Debt means the bonds and capital obligations that are directly secured by the municipality's unlimited taxing power, excluding indirect general obligation guarantees, and issued during the annexed period, as represented in the municipality's comprehensive annual financial reports. "General obligation debt" does not include any refinancing or refunding of debt issued prior to the annexed period;

General Obligation Debt means any Debt which is a general obligation of the City and to which the City has pledged its full faith, credit and taxing powers, including, without limitation, the Loan.

General Obligation Debt means, collectively, the Bonds as may be Outstanding from time to time, as well as all other general obligation debt of the Issuer (including bonds, notes, commercial paper and any other debt instruments in writing, authorized by or issued as general obligations of the Issuer pursuant to or in accordance with the Act) and bond anticipation notes of the Issuer, if any, as may be issued and outstanding from time to time under the Act.