A commitment that is ‘moral’ and not legal because succeeding legislatures are not obligated to abide by such provisions made by preceding legislatures. Municipality, or other governmental entity, issued debt obligation lacking a general obligation bond’s security. Instead, in case of a default, government’s pledge to appropriate future funds of the issuing entity is its backing.
What is MORAL OBLIGATION BOND?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- Best Way to Find Someone in Jail for Free
- What Is A Police Welfare Check?
- How Do You Look up License Plate Numbers?
- Best Way To Run A Free Arrest Warrant Check
- Signing a Letter on Someone Else’s Behalf
- Best Way to Write a Professional Letter to a Judge
- How To Find A Name & Address Using A License Plate Number
- How To Find An Inmate’s Release Date
- How to Transfer a Car Title When The Owner Is Deceased
- What Rights Do Convicted Felons Lose?