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limited-tax general obligation bond

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Limited-tax general obligation bond
A general obligation bond of a government backed by specified or constrained revenue sources.
limited-tax general obligation bond
A municipal bond that is secured by some limited taxing power of the issuer. For example, a bond may be secured by a municipality's property tax subject to a maximum rate at which the tax may be levied. Although a limited-tax general obligation bond is considered a general obligation of the issuer, because of the limited taxing power, this bond is somewhat more risky than a general obligation bond secured by full taxing power.


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